First Tidal Acquisition Corp T.AAA

$333 per tonne

[Jeremy2014]

$333 per tonne ($40-million for 120,000 metric tonnes of potash)

Canpotex signs $60 million deal with Bangladesh

By The StarPhoenix, The StarPhoenix April 23, 2014 2:46 PM

Canpotex has signed a $40-million contract to supply potash to Bangladesh with an option to supply an additional $20 million worth of potash.

The one-year deal calls for Canpotex’s members — Potash Corporation of Saskatchewan, Agrium and The Mosaic Company and Agrium Inc.— to deliver 120,000 metric tonnes of potash to Bangladesh with an option for an additional 60,000 metric tonnes.

This is Canpotex’s first potash contract with Bangladesh since 1992.

The contract was negotiated between the Canadian Commercial Corporation and the Bangladesh Agricultural Development Corporation. The Canadian Commercial Corporation is the Government of Canada’s international government-to-government contracting organization.

“Fifty per cent of all Canadian exports (to Bangladesh) come from our province,” said Premier Brad Wall, referring largely to lentils and peas.

Bangladesh buys approximately 600,000 tonnes of potash per year.

“The potash industry is important from a revenue point, but more important from an economic impact point of view,” Wall said.

“What I mean by that is jobs,” he said, adding the potash industry in the province is a huge driver of employment and growth.

“Today is going to mean some revenue to the coffers, but mostly it means continued strength and stability for this potash industry.”