Brazilian mining giant Vale SA postpones $3 billion Saskatchewan potash mine

August 16, 2012 - 9:23 PM

REGINA - Brazilian mining giant Vale SA says it is postponing a $3 billion potash project in Saskatchewan.

The huge mine was to be developed near Kronau (crow-now), a small community southeast of Regina.

It would have employed more than 1,500 workers during construction and up to 500 jobs once it was opened.

Corey McPhee, a Vale vice-president, says the postponement was necessary because of challenging economic conditions.

The mine was expected to produce up to 2.9 million metric tonnes of potash, a key ingredient in fertilizer, per year.

The Saskatchewan government is calling the announcement unfortunate.

News from © The Canadian Press, 2012

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