Canpotex and Sinofert Reach New Agreement

SASKATOON, Dec. 31, 2012 /CNW/ - Canpotex Limited (Canpotex) announces that it has reached agreement with Sinochem Fertilizer Macao Commercial Offshore Limited, a subsidiary of Sinofert Holdings Limited (Sinofert), to supply 1,000,000 tonnes of potash in the first half (January - June) of calendar year 2013 at price levels which reflect a US$70.00 per tonne reduction from the last contract price established in March, 2012.

The agreement is pursuant to the three-year Memorandum of Understanding signed with Sinochem Fertilizer Macao Commercial Offshore Limited in October, 2010. Steven Dechka, Canpotex's President and Chief Executive Officer, stated that this latest agreement demonstrates the continued confidence Sinofert has in Canpotex's ability to meet the growing needs for potash in the important China market.

Sinofert is China's largest integrated agricultural company and a long-term business partner of Canpotex. Sinofert and Canpotex continue to collaborate on extensive market development programs in China that provide Chinese farmers with the educational tools needed to improve yields through balanced fertilizer application and other best farming practices.

Operating continuously since 1972, Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc. (TSX and NYSE: AGU), Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and Potash Corporation of Saskatchewan Inc. (TSX and NYSE: POT).

SOURCE: Canpotex Limited

Richard Downey
Vice President, Investor, Corporate Relations
Agrium Inc.
Tel: [phone]
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Laura Gagnon
Vice President, Investor Relations
The Mosaic Company
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Denita Stann
Vice President, Investor and Public Relations
Potash Corporation of Saskatchewan Inc.
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[email protected]

Mark Kaplan
Vice President, Public Affairs
The Mosaic Company
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[email protected]