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Fertilizer Company OKs $3B Potash Project

A German fertilizer company has approved $3.15 billion in spending for a new potash mining operation in Saskatchewan.

TORONTO (AP) โ€” A German fertilizer company has approved $3.15 billion in spending for a new potash mining operation in Saskatchewan.

The K+S group said Tuesday the proposed Legacy mine, about 30 miles (50 kilometers) north of Moose Jaw, Saskatchewan, is expected to begin in 2015 and ramp up over the next few years.

K+S acquired the project when it bought Vancouver-based Potash One earlier this year.

The company expects to have more than 1,000 people working on construction at peak periods and employ 300 when the site hits full production.

Saskatchewan has the world's largest supply of potash, a mineral used to create fertilizers that promote crop growth and improve food production. It has increasingly attracted attention from foreign mining companies.

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