Scott Moe

MESSAGE FROM THE PREMIER OF SASKATCHEWAN

Scott Moe

On behalf of the Government of Saskatchewan, it is my great pleasure to welcome you to this edition of The Potash Producer. Saskatchewan is fortunate to be the largest producer and exporter of potash in the world, accounting for close to 30 per cent of global production. The industry is a major presence in our province, directly employing more than 5,000 people and contributing to our communities in countless ways.

We are grateful the potash industry in Saskatchewan has grown tremendously in recent years. Since 2007, more than $13.5 billion has been invested in mine expansions, while another $8.1 billion has been committed to new mine development. This includes the open-

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ing of the K+S mine at Bethune in 2017 – the first greenfield potash mine to begin production in Saskatchewan in more than 40 years.

Despite the challenges arising from the global COVID-19 pandemic, the industry has demonstrated its resilience and ability to adapt. I have seen firsthand how our businesses and communities have been impacted by the pandemic, and we are thankful our potash producers took early action to protect workers, avoid production disruptions and keep the industry strong and competitive.

Global potash demand exceeded expectations in 2020, with Saskatchewan sales reaching 14.1 million K2O tonnes, an increase of nearly 14 per cent from 2019. World potash shipments reached record levels this past year and we expect this trend to continue in 2021.

As we come out of the pandemic, we look to the potash industry to play a vital role in our province’s economic recovery. Our government is focused on supporting the industry, which is why we recently amended potash tax regulations to improve access to existing tax credits for qualified research and development projects and market development programs. We will work to ensure the industry benefits from a competitive investment and business environment in the province.

Today, 95 per cent of our potash production is shipped to international markets, with the United States as our number-one buyer. Our government’s Growth Plan has set a goal of boosting the annual value of potash exports to $9 billion by 2030. To support this objective, this year we will be opening new international trade and investment offices in India, Japan, and Singapore. We want to strengthen our trading relations in Asia, the fastest-growing region in the world. The world’s population is forecast to grow to 10 billion by 2050, with much of the increase taking place in Asia. Saskatchewan potash will be in high demand for decades to come.

For nearly 60 years, the potash industry has been an important part of the fabric of Saskatchewan. In the years ahead, the industry will drive growth in our province. Our government will work in partnership with the industry to create economic opportunity and support healthy communities right across our great province.

On behalf of the Government of Saskatchewan, I want to thank the potash producers of Saskatchewan for helping build a stronger Saskatchewan.

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