Canada potash tax changes to cost Mosaic $80 mln-$100 mln -company

Mon Mar 30, 2015 4:35pm EDT
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March 30 (Reuters) - Changes to the Canadian province of Saskatchewan's potash production tax will cost U.S. fertilizer company Mosaic Co $80 million to $100 million in 2015, the company said on Monday.

The province said earlier this month that it will require potash mining companies to take tax deductions based on their capital spending over two years, rather than two, as it looked to plug a hole in its budget.

The move affects Mosaic and rivals Potash Corp of Saskatchewan and Agrium Inc. Potash Corp has said the changes will hurt its 2015 pre-tax earnings by C$75 million to C$100 million. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Grant McCool)