“We are a critical-minerals powerhouse and we can be a bigger one,” Eyre said in a phone interview.
Fertilizer markets have been in disarray since the U.S. imposed sanctions on Belarus, and from economic measures taken against Russia following its invasion of Ukraine in February. Russia and Belarus account for about 40% of global potash production and exports, according to Saskatoon, Saskatchewan-based Nutrien Ltd., while Canada is the other major source for the commonly used fertilizer that contains potassium.
READ ALSO: Canada’s scrambling to fill a massive global fertilizer deficit
Saskatchewan has roughly 1.1 billion metric tons of potassium oxide, enough to supply the world for several hundred years, according to the province’s energy ministry. Only a small fraction of that is in production, with 10 mines in the province operated by K+S Potash Canada, Nutrien and Mosaic Co. Saskatchewan produced a record 14.2…
