Canpotex To Supply Red Standard Grade Potash To Sinofert Under Three-year MOU

(RTTNews) - Canpotex Limited has entered into a new three-year memorandum of understanding or MOU with Sinochem Fertilizer Macao Commercial Offshore Ltd. or Sinofert to supply a minimum of 1.9 million metric tons of red standard grade potash during the term of the MOU.

In addition, Sinofert has the option to purchase up to 2.4 million metric tons, or 800,000 metric tons per year, of other grades of Canpotex potash during the term of the MOU.

Canpotex noted that pricing will be negotiated every six months, based on market conditions. The MOU covers the period from January 1, 2015 to December 31, 2017.

Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies - Agrium Inc. (AGU, AGU.TO), Mosaic Canada Crop Nutrition, LP, a subsidiary of Mosaic Co. (MOS), and Potash Corp. of Saskatchewan Inc. (POT, POT.TO).