Released on January 15, 2004
Saskatchewan hit an all-time record for volume of potash sales last year.In 2003, according to preliminary statistics potash sales hit a high of 14.4 million tonnes, up eight per cent from 2002. The previous record was established in 1997.
"Recent tax changes to potash in Saskatchewan and higher consumption of the product world wide have helped this strong performance by the potash industry," Industry and Resources Minister Eric Cline said.
The government eliminated the profit tax on new potash sales and introduced faster capital write-offs last summer in order to encourage additional potash sales and attract new investment.
"These measures have made our potash industry more competitive internationally and are helping to attract new investment to the province," Cline said. "Saskatchewan's potash industry generates about 6,000 jobs and is a key contributor to the wide open future of this province."
Potash is the largest mining industry in the province. Saskatchewan accounts for 35 per cent of world potash production.
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For More Information, Contact:
| Bob Ellis Industry and Resources Regina Phone: (306) 787-8277 |