Mosaic seeking simpler Saskatchewan potash tax system

Thu Mar 19, 2015 10:40am EDT
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WINNIPEG, Manitoba, March 19 (Reuters) - Mosaic Co, North America's second-largest potash producer, is seeking a simpler potash tax and royalty system in the resource-rich Canadian province of Saskatchewan, spokeswoman Sarah Fedorchuk said on Thursday.

Saskatchewan said on Wednesday that it will require potash mining companies to take tax deductions based on their capital spending over a longer period of time. The government said the move was an interim step and it plans a broader review of the system. The interim changes will have no significant impact on near-term earnings for Agrium Inc , which just finished expanding its Vanscoy, Saskatchewan mine, said spokesman Todd Coakwell. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Chizu Nomiyama)