Canpotex announced a $500 million investment into a port in Vancouver to aid Saskatchewan potash in reaching overseas markets.

The Saskatchewan-based potash supplier announced the investment in the Neptune Bulk Terminals, including the replacing and refurbishing of equipment.

Premier Scott Moe attended the announcement today, showing his support for the investment in both showing up and his words.

“By moving more Saskatchewan potash to international markets, this project will create new opportunities and support good jobs and economic growth in our province as well as across Canada. This expansion will strengthen global food security and reinforce Saskatchewan’s position as the world’s leading potash producer and a trusted, secure, reliable and ethical supplier.”

Canpotex has marketed and delivered potash by the two largest Saskatchewan potash companies – Mosaic and Nutrien – for 50 years to more than 40 overseas countries. Over the company’s lifetime, it has sold and shipped 325 million metric tonnes of potash to millions of farmers.

Canpotex President and CEO Gordon McKenzie says, “Today’s investment at Neptune means we will be able to reliably export Saskatchewan potash through the Port of Vancouver to farmers overseas for decades to come.”

Eleven of the 12 active potash mines in Canada are located in Saskatchewan