Pacific Coast Terminals and K+S Potash Canada sign potash products agreement

Date:04-18-2014

Pacific Coast Terminals (PCT) and K+S Potash Canada General Partnership (K+S Potash Canada) signed an exclusive, long-term contract for the handling and storage of potash products from K+S Potash Canada’s Legacy mine site.

Under this agreement, the parties will construct a new potash handling facility at PCT’s bulk handling terminal located in Port Moody, British Columbia. Potash products arriving by rail from the Saskatchewan-based Legacy mine will be unloaded and stored on site and loaded to vessels destined for K+S Group’s international clients.

K+S Potash Canada and PCT are forming this longstanding partnership to ensure that the transport of the Legacy potash products to international clients is handled with high quality standards, state-of-the-art technology and in a manner that is both secure and competitive. Commissioning and mechanical completion of the new potash handling facility are planned for the fall of 2016.

The construction program will include infrastructure, a new railcar unloading station, new covered conveyor systems, systems to control dust emissions and a new storage warehouse. It will start immediately after the required permits from the authorities are issued. Additionally, dredging of the Burrard Inlet will deepen the shipping channel to allow improved vessel navigation and vessel transit windows.

“We are very pleased to have signed a contract with PCT, whose terminal operations are located at a strategically favourable location in Port Moody,” says Dr. Ulrich Lamp, President and CEO, K+S Potash Canada. “PCT will provide its excellent expertise to store and handle the potash produced at the Legacy mine, and will allow K+S to deliver potash products to emerging regions in Asia, South America and North America. This world class facility will meet internationally recognized environmental standards.”

“PCT couldn’t be more pleased with this agreement,” stated Lorne Friberg, president and CEO of Pacific Coast Terminals Co. Ltd. “Working in collaboration with K+S Potash Canada provides significant mutual benefits to both of our organizations. The expansion of our operations also allows for a greater contribution to the City of Port Moody in terms of new jobs, additional municipal taxes, and increased support to local community organizations and events”.

The benefits to the provincial economy were acknowledged by the Honourable Todd Stone, Minister of Transportation and Infrastructure for the Government of British Columbia. “We welcome the business of K+S Potash Canada to our province. The expansion of Pacific Coast Terminals is great news for B.C. and our expanding Pacific Gateway trade with Asia,” said the Honourable Todd Stone. “The Province’s move to put a permanent cap on the Ports Property Tax Act in Budget 2014 is helping businesses like PCT expand, in turn creating jobs for B.C. families and contributing to the economy.”