Canpotex Announces Plans to Nearly Double Port Capacity

SASKATOON, SK, June 24 /PRNewswire/ - Canpotex Limited (Canpotex) today
announced plans for two west-coast terminal projects that will add
approximately 11 million tonnes of annual potash shipping capacity to its
current 12 million tonnes by the end of 2012. The projects include a new
greenfield terminal on Ridley Island near Prince Rupert, British Columbia and
a brownfield terminal expansion adjacent to Neptune Bulk Terminals (Canada)
Ltd. in North Vancouver, British Columbia. The combined cost of these projects
is expected to be in excess of CDN $500 million. Both projects are subject to
the finalization of acceptable agreements with the respective Port authorities
and other stakeholders.
"These projects are essential and strategic steps in preparing for
long-term growth in global potash demand," said Steven Dechka, President and
Chief Executive Officer of Canpotex. "With Canpotex shareholders working to
significantly increase production over the next several years, we have a
responsibility to build on our long-term ability to deliver this essential
nutrient to offshore markets. In addition to increasing shipping capacity, the
terminals will provide access to the fastest shipping routes to certain key
offshore markets such as China. We look forward to the opportunity to better
serve our customers."
Canpotex is the offshore marketing company owned by the three Saskatchewan
potash producing companies: Agrium Inc., Mosaic Canada Crop Nutrition, LP, a
subsidiary of The Mosaic Company, and Potash Corporation of Saskatchewan Inc.
Artists' renderings of the terminal facilities are available upon
request.
SOURCE Canpotex Limited

Ted J. Nieman, Senior Vice President, General Counsel and Secretary, Phone
(306) 931-7250, Fax (306) 653-5505, E-mail ted.nieman@canpotex.com, Website
www.canpotex.com; Jennifer L. Siemens, Manager, Corporate Communications,
Phone (306) 931-7275, Fax (306) 653-5505, E-mail
jennifer.siemens@canpotex.com, Website www.canpotex.com