BUZZ-Potash miners: Hit by Saskatchewan tax structure changes

Thu Mar 19, 2015 10:43am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Shares of potash miners with operations in Saskatchewa fall after the Western Canadian province changes how it taxes potash miners

** Potash Corp of Saskatchewan down 2.9 pct at C$41.16, Agrium Inc down 1.4 pct at C$138.01 and Mosaic Co down 2 pct at $46.57

** Saskatchewan said miners will have to take tax deductions based on their capital spending over a longer period of time, to help offset a drop in oil revenue

** PotashCorp says was nearing completion of a $6 bln investment in region based on existing tax structure

** Company expects new tax structure to hurt its 2015 pre-tax earnings by C$75-C$100 mln

** Agrium expects the tax change to have no significant impact on near-term earnings

** Mosaic seeks simpler potash tax and royalty system