Oh my! There just isn't any slowing down in sight for Saskatchewan's growth.
CTV Regina
Mosaic Co. has announced it will spend $1.7 billion to expand its K3 potash mine near Esterhazy, Sask.
The company says it plans to accelerate the production ramp-up of the mine over the next eight years.
During that time, an average of more than 300 skilled contract tradespeople will be working at the site, and as many as 600 workers will be on site during peak construction.
In 2009, Mosaic announced it would spend $1.5 billion on the first stage of the K3 project, as part of a long-term strategy to expand its potash business.
The company expects to begin mining potash ore at K3 by late 2017. The project will serve as a satellite mine for the milling and storage facilities that were upgraded during the first stage of expansion.
Saskatchewan Premier Brad Wall was on hand for the announcement in Regina on Monday. In a news release, Wall said the planned expansion is further evidence that the province's diversified economy remains strong, despite the recent downturn in oil prices.
Mosaic announces $1.7B potash mine expansion | CTV Regina News