More per Acre...
With so many people focused on current economic conditions, it is easy to lose sight of the bigger and potentially greater issue of global food production. As the world’s population expands and the demand for grain and other crops continues to grow, the need to produce more per acre will be increasingly difficult to ignore.
At PotashCorp, we have always operated with a long-term view and our business strategies – and sustainability program – are designed to prepare for the inevitable and ongoing need to increase food production. Such ambition not only makes our enterprise extremely valuable to our stakeholders; it keeps our employees engaged in a truly noble and necessary cause.
Our vision and our strategies do not change with swings in global economic conditions. Food is not a discretionary item. People need to eat. With more mouths to feed – especially in countries like China and India, where the population and economies continue to grow – it is imperative that the world’s farmers maximize yields.
Our goal is to be part of this global food solution. That desire is what makes the sustainability of our company essential.
More...When It Is Needed
While 2008 had many industries talking about a slowdown, our strong financial performance, including a fifth consecutive year of record earnings, enabled us to continue with significant potash capacity expansions. Projects underway in Saskatchewan and New Brunswick will raise our constructed potash capacity to 18 million tonnes by the end of 2012. In total, our continuing investment in capacity expansions will reach CDN $7 billion from 2005 through 2012.
The return on this investment touches all our stakeholders. Independent research suggests our projects will generate approximately $3.2 billion in new gross domestic product in Saskatchewan during the construction phase, new annual GDP of $3.8 billion when operational, more than 14,500 direct and indirect jobs and bountiful new opportunities for suppliers and community organizations. The new production will be essential to meet the needs of potash customers around the world and the benefits will be shared by the investors who provide us with the capital to operate.
Our view of the future is not shaped by trepidation over short-term economics, but by the incredible opportunity we have and the importance of what we do.
By maintaining our long-term view, we expect to deliver more of what our stakeholders need. That vision is what our sustainability program is all about.
