PORT MOODY, BC – Pacific Coast Terminals Co. Ltd. (PCT) and K+S Potash Canada General Partnership (K+S Potash Canada) yesterday 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.”
Dr. Ulrich Lamp, President and CEO of K+S Potash Canada (left) and Lorne Friberg, President and CEO of Pacific Coast Terminals Co. Ltd. (right).
About Pacific Coast Terminals
Pacific Coast Terminals Co. Ltd. (PCT) is a bulk materials handling facility located in the inner harbor of Port Metro Vancouver in Port Moody, B.C., Canada. A specialist in handling dry bulk solid sulphur and liquid glycol, PCT is the world’s largest sulphur export facility by volume and has handled over 5 million tonnes of cargo annually. PCT has been a proud member of Port Moody since 1960 and has quickly defined itself as a responsible, thriving business through establishment of state-of-the art facilities, award-winning environmental initiatives and contributions in excess of $1 million to local community groups and non-profit organizations.
About the K+S Group
K+S Potash Canada GP is part of the K+S Group, an international commodities company. We have been mining and processing mineral raw materials for 125 years. The products we produce from them are used worldwide in agriculture, food and road safety and are important elements in numerous industrial processes. The nutrients potash and salt are accompanying the megatrend for the future: A constantly growing global population is becoming increasingly prosperous and striving for a more modern standard of living, which results in an increasing consumption of mineral raw materials. We serve the resulting growth in demand from production sites in Europe, North America and South America as well as through a global distribution network. K+S is the world’s largest salt producer and one of the top potash providers worldwide. With more than 14,000 employees, K+S achieved revenues in financial year 2013 of about € 4 billion and an EBIT of € 656 million. K+S is the commodities stock on the German DAX index. Learn more about K+S at www.k-plus-s.com.
About the Legacy Project
K+S is putting its more than one hundred years of mining experience and world-class expertise to work on the Legacy Project, a potash mine and production facility being built near Moose Jaw. It will be the first new greenfield potash mine built in Saskatchewan in nearly forty years. Commissioning is targeted for the summer of 2016. K+S projects to reach the two-million-tonnes-mark of production capacity at the new location at the end of 2017. The Legacy Project will mean new job opportunities for Saskatchewan workers, and new business opportunities for Saskatchewan companies supplying goods and services to this major economic development. K+S is growing Saskatchewan, while providing the potash that is needed to help feed a growing world population. More information at www.ks-potashcanada.com.
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