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Climbing fertilizer prices helped Potashcorp more than double its earnings in the third quarter, but it is maintaining its full-year guidance. The fertilizer producer says it’s in a position to capitalize on growing potash demand by boosting its production ahead of industry rivals.
CEO Bill Doyle tells BNN Potashcorp began its production expansion in 2003 and next year it’ll ramp up its output by two million tonnes. “We’re going to take the lion’s share of the growth over four, five years… We also have 70 percent of our capital expenditure behind us, where as these people are just starting out.”
He says competitors’ talk about new projects in Saskatchewan is just that – talk.
“There’s a difference between being a promoter and actually being in the business. So we haven’t seen pressure from those folks yet, because they’re not doing it,” he says.