Sales of potash during the first nine months of 1992 totalled almost 3.1 million tonnes, compared with three million tonnes during the same period last year, Potash Corp. of Saskatchewan (TSE) reports.
The Saskatoon-based company produced 2.85 million tonnes in the first three quarters compared with 3.03 million tonnes in 1991. Operating costs of sales for the potash operations for the 9-month period were $121.9 million compared with $113.6 million in 1991.
Net income for the first nine months of 1992 was $46.4 million ($1.20 per share) on revenues of $304.7 million, compared with $37.6 million (98 cents per share) for the first nine months of 1991.
Potash Corp. is the world’s largest publicly traded supplier of potash, which is used to make fertilizer. From five mines in Saskatchewan, four of which it owns and operates, it produces 8-10% of total world production. The company sells to a stable North American market and to a growing international market through Canpotex, the offshore sales agency for all Saskatchewan potash producers.
Under current allotments, Potash Corp. accounts for about 56% of all Canpotex sales, making it the major potash supplier to the world’s offshore markets. The company projects that increased potash usage will be required during the next decade to produce substantial quantities of food in these offshore regions.
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