Potash Corporation of Saskatchewan Inc.
A former Canadian fertilizer producer and the world's largest potash producer before merging with Agrium to create Nutrien in 2018.
Last updated August 31, 2026
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Overview
Potash Corporation of Saskatchewan Inc., commonly known as PotashCorp, was a Canadian fertilizer company headquartered in Saskatoon, Saskatchewan. Established by the provincial government in 1975, it was created during a period when Saskatchewan was attempting to restructure and gain greater public control over its potash industry. The company initially operated as a Crown corporation and acquired interests in mines across the province. It later became one of the most significant producers in the global crop-nutrient industry. PotashCorp’s principal business was potash, a potassium-bearing fertilizer essential to crop development and widely used in intensive agriculture. The company also produced nitrogen and phosphate fertilizers, the other two major nutrient categories used in conventional fertilizer programs. At its peak, PotashCorp described itself as the world’s largest potash producer and among the leading producers of nitrogen and phosphate. Its assets and commercial relationships extended beyond Canada into the United States, Brazil and the Middle East, while its products were sold into international agricultural markets. The company’s international reach was supported by ownership interests and joint ventures. PotashCorp was part-owner of Canpotex, the marketing and export organization responsible for distributing Saskatchewan potash to overseas customers. It also participated in Sinofert, a joint venture with Sinochem that connected the company with fertilizer distribution and agricultural markets in China. Through acquisitions during the 1990s and later expansion, PotashCorp assembled a portfolio that included Canadian and American potash operations as well as phosphate and nitrogen assets. PotashCorp’s corporate structure changed substantially after privatization. The Saskatchewan government began selling the company to private investors in 1989 and completed the disposal of its remaining shares in 1990. The transition followed a difficult period in the early 1980s, when the company accumulated significant debt and recorded losses. As a private and publicly traded enterprise, PotashCorp benefited from the long-term growth of fertilizer demand and rising potash prices. By the late 2000s it had become one of Canada’s most valuable listed companies by market capitalization. The business nevertheless remained exposed to the cyclical nature of fertilizer markets. In 2010, BHP Billiton made an unsolicited proposal to acquire PotashCorp. The Canadian federal government rejected the proposal under the Investment Canada Act, concluding that the transaction did not demonstrate a sufficient net benefit to Canada. BHP subsequently withdrew its offer. Several years later, a major change in the potash market followed Uralkali’s decision to end its marketing partnership with Belaruskali. The resulting uncertainty over supply and prices contributed to weaker earnings for PotashCorp, employee reductions and the closure of less profitable facilities. In September 2016, PotashCorp announced an agreement to combine with Agrium, a Calgary-based fertilizer producer and agricultural retail company. The transaction was designed to create Nutrien, with PotashCorp shareholders receiving a majority interest and Agrium shareholders receiving the balance. The merger closed on January 1, 2018. PotashCorp and Agrium were dissolved as separate companies, and their assets and operations were placed within Nutrien. PotashCorp therefore remains an important predecessor to Nutrien rather than an active standalone brand or corporation.
History
Saskatchewan’s potash sector developed rapidly during the 1950s and 1960s, encouraged by government support and investment from American companies. Excess production later contributed to a severe market downturn. In response, the provincial government introduced quotas and a price floor in 1969. A subsequent regulatory scheme included a reserve tax, but producers resisted the policy and challenged its constitutional basis. The Saskatchewan government established the Potash Corporation of Saskatchewan in 1975 as a Crown corporation. It negotiated purchases of private-sector assets and gradually built control over a substantial share of domestic potash production. Public ownership was criticized by the United States government, particularly because some acquired operations had previously been owned by American interests. During the 1980s, the United States Department of Commerce accused the corporation of dumping and imposed substantial duties on potash imports. PotashCorp experienced financial difficulties in the early 1980s, including several loss-making years and the accumulation of approximately C$800 million in debt according to historical accounts. The provincial government subsequently chose privatization. In 1989, the Saskatchewan government sold shares to private investors, and it disposed of its remaining holdings in 1990, transforming PotashCorp into a publicly traded private company. During the 1990s, the company expanded through acquisitions in North America. Its purchases included Potash Company of America, Florida Favorite Fertilizer, Texasgulf and Arcadian Corporation. The resulting business combined potash mining with nitrogen and phosphate production. PotashCorp later developed or acquired interests in assets outside Canada, including operations or investments connected with Brazil and the Middle East. By 2003, it operated six of Canada’s eleven potash mines, and by the end of 2011 it controlled a significant share of global potash capacity. The company’s growth accelerated during the commodity and fertilizer-price upswing of the 2000s. In 2007, chief executive William Doyle received unusually high compensation, a matter that attracted attention in Canadian business reporting. By March 2008, PotashCorp had become one of Canada’s largest companies by market capitalization. Its export position was strengthened by its ownership interest in Canpotex, which marketed Saskatchewan potash internationally. PotashCorp also participated in Sinofert with Sinochem. In 2010, BHP Billiton made a hostile takeover proposal. The Canadian government rejected the transaction under the Investment Canada Act, and BHP withdrew its bid. PotashCorp continued independently, but the potash market weakened after Uralkali broke apart its marketing arrangement with Belaruskali. In 2013, PotashCorp reported a major fall in third-quarter profit and later announced significant workforce reductions. Jochen Tilk became chief executive in 2014. The downturn continued into the middle of the decade. In 2016, PotashCorp closed its Piccadilly mine in New Brunswick because of weak potash prices and underground structural issues. The company also closed other less profitable Canadian potash mines during that year. In September 2016, it announced a proposed merger with Agrium. The combination was structured so that former PotashCorp shareholders would own 52 percent of the merged company and former Agrium shareholders 48 percent. The transaction was completed on January 1, 2018, creating Nutrien. PotashCorp and Agrium were dissolved as independent entities, making Nutrien the corporate successor to PotashCorp’s operating assets and business legacy.
- 2018
Nutrien is formed
[1]The PotashCorp–Agrium merger closes on January 1, ending PotashCorp’s existence as an independent company.
- 2016
Merger with Agrium is announced
[1]PotashCorp announces an agreement to merge with Agrium and create Nutrien.
- 2014
Jochen Tilk becomes chief executive
[1]Jochen Tilk succeeds William Doyle as PotashCorp’s chief executive officer.
- 2010
BHP takeover proposal is rejected
[1]The Canadian government rejects BHP Billiton’s takeover proposal under the Investment Canada Act.
- 2003
Operates six Canadian potash mines
[1]PotashCorp operates six of Canada’s eleven potash mines, illustrating its major domestic production position.
- 1990
Government ownership ends
[1]Saskatchewan sells its remaining shares, completing PotashCorp’s transition to private ownership and public-market status.
- 1989
Privatization begins
[1]The provincial government begins selling its stake in PotashCorp to private investors.
- 1975
Potash Corporation of Saskatchewan is established
[1]The Saskatchewan government creates Potash Corporation of Saskatchewan as a Crown corporation to increase public participation in the province’s potash industry.
Products and positioning
A large-scale, resource-based crop-nutrient producer centered on Saskatchewan potash and supported by nitrogen and phosphate operations.
Potash
Potash fertilizers
Potash was PotashCorp’s core product category and the foundation of its global identity. These potassium-based fertilizers were produced from Saskatchewan and other mining assets and marketed to agricultural customers internationally. PotashCorp became the world’s largest potash producer and controlled a substantial share of global production capacity before its merger with Agrium.
Nitrogen
Nitrogen fertilizers
Nitrogen fertilizers formed one of PotashCorp’s two major secondary business lines. The company operated nitrogen assets and was among the world’s leading producers in this category. Nitrogen products complemented its potash portfolio by supplying a different essential crop nutrient and reducing reliance on a single fertilizer market.
Phosphate
Phosphate fertilizers
PotashCorp also produced phosphate fertilizers and operated related mining and processing assets, including the Aurora operation in North Carolina. Phosphate was part of the company’s broader strategy of participating in all three principal crop-nutrient markets: potash, nitrogen and phosphate.
Brand decisions
2016
Agree to merge with AgriumM&ABackground
PotashCorp was operating in a weakened fertilizer market and sought a larger, more diversified platform with Agrium.
Action taken
The companies announced a merger that would create Nutrien. The proposed ownership structure allocated 52 percent of the merged company to PotashCorp shareholders and 48 percent to Agrium shareholders.
Aftermath
The transaction closed on January 1, 2018, and PotashCorp ceased to exist as a separate company.
Announced transaction valuation. (2016 announcement)
2016
Close the Piccadilly mineStrategyBackground
Low potash prices and underground structural problems reduced the commercial viability of the Piccadilly operation in New Brunswick.
Action taken
PotashCorp closed the Piccadilly mining operation and also shut other less profitable Canadian potash mines during the year.
Aftermath
The closures reduced exposure to uneconomic production while the company prepared for its merger with Agrium.
2010
Resist the BHP Billiton takeoverM&ABackground
BHP Billiton launched an unsolicited proposal to acquire PotashCorp.
Action taken
The Canadian federal government rejected the proposal under the Investment Canada Act, after which BHP withdrew its bid.
Aftermath
PotashCorp remained independent and continued operating as a major Canadian fertilizer company.
- BHP Billiton — BHP withdrew its takeover proposal after the federal government rejected it.
1989
Privatize PotashCorpStrategyBackground
The Crown corporation had experienced losses and accumulated substantial debt during the early 1980s.
Action taken
The Saskatchewan government began selling its shares to private investors and completed the disposal of its remaining holdings in 1990.
Aftermath
PotashCorp became a publicly traded private company and expanded through acquisitions in Canada and the United States.
1975
Create a provincial potash corporationStrategyBackground
Saskatchewan faced instability in its potash industry, including overproduction, weak prices and disagreement over how industry profits should be distributed.
Action taken
The provincial government established Potash Corporation of Saskatchewan as a Crown corporation and began acquiring interests in potash operations.
Aftermath
The company became a major domestic producer and later the foundation for a large international fertilizer business.
Recent events
- 2018
PotashCorp and Agrium complete the formation of Nutrien[1]
M&A
The merger closed on January 1, 2018. PotashCorp and Agrium ceased to exist as independent companies, while their assets and operations became part of Nutrien.
- 2018
PotashCorp and Agrium merger creates Nutrien[1]
M&A
The merger closed on January 1, 2018. PotashCorp and Agrium were dissolved and their assets were combined in Nutrien.
- 2016
PotashCorp closes the Piccadilly potash operation[1]
Other
The company shut its Piccadilly mining operation near Sussex, New Brunswick, citing depressed potash prices and structural problems at the underground facility.
- 2016
PotashCorp and Agrium announce a merger[1]
M&A
PotashCorp agreed to combine with Agrium in a transaction intended to create Nutrien, a major global crop-nutrient producer headquartered in Saskatoon.
- 2016
PotashCorp closes the Piccadilly operation[1]
Other
The company closed its Piccadilly underground potash mining operation in Sussex, New Brunswick, citing depressed potash prices and underground structural problems.
- 2016
PotashCorp and Agrium announce merger[1]
M&A
PotashCorp agreed to combine with Agrium in a transaction designed to create Nutrien, a large integrated fertilizer producer.
- 2014
Jochen Tilk succeeds Bill Doyle as chief executive[1]
Leadership change
PotashCorp appointed Jochen Tilk as chief executive officer, succeeding William Doyle.
- 2014
Jochen Tilk appointed chief executive[1]
Leadership change
Jochen Tilk was named chief executive officer, succeeding William Doyle.
- 2013
PotashCorp reports a sharp decline in quarterly profit[1]
Pricing · Other
The company reported a year-over-year decline in third-quarter profit, attributing pressure to deteriorating potash-market conditions after Uralkali ended its joint venture with Belaruskali and increased concern about future prices.
- 2013
PotashCorp announces workforce reductions[1]
Other
PotashCorp announced plans to eliminate 1,045 positions amid weaker market conditions and pressure on profitability.
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