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Potash Corp. responds to tax policy MIRRORED Potash Corp.'s Rocanville, Saskatchewan, plant. POTASH CORP. PHOTO Potash Corp. of Saskatchewan is investing $80 million to expand a potash plant in Rocanville, Saskatchewan, by 400,000 metric tons per year. The expansion will boost capacity of the facility, already touted by the company as the lowest cost potash plant in the world, to 1.5 million tons when it is completed in the first quarter of 2005. The company noted that the Saskatchewan government modified its resource tax system by eliminating a profits tax on incremental tons of production. It is also allowing quick write-downs on capital investments and has pledged to simplify the province's tax structure over the next two years. "This tax change has helped to justify this investment," says William J. Doyle, Potash's president and CEO. |
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