K+S Potash signs contract with Canadian Pacific

Canadian Pacific will help move potash products from K+S' Legacy Site after the two signed an exclusive long-term volume-based contract.

The contract is for potash to be moved from the Legacy Site, near Moose Jaw and Regina in Saskatchewan, to a Western Canadian port and to other domestic Canadian and US markets.

Canadian Pacific will be build an exclusive rail spur to provide access to K+S Potash Canada’s Legacy Site.

The Legacy (KP 289) greenfield potash project is situated approximately 80 km northwest of the city of Regina, Saskatchewan, Canada. The potash project was developed by Potash One. The company was bought by K+S AG in March 2011 for 322.5 million euros. The German company is the world's fifth larger potash producer and the world's top salt producer. K+S has mines in Europe, North and South America.

Production from the mine is planned for the summer of 2016.