Potash demand is already beginning to outstrip supply. For instance, to feed this growing fertilizer demand, more than two million tonnes of potash are currently required each and every year. This is equivalent to one new mine coming on-stream each year – which is not yet happening.
In spite of such upward-trending demand, potash is still being significantly under-utilized in many countries due to poor farm credits and poor supply.
In fact, market experts estimate that the world’s leading emerging economies (Brazil, Russia, India, and China) alone will require an additional 28 million tonnes of potash annually to maximize fertilizer application rates. This is the equivalent of around 14 new potash mines.
This major shortfall is an ideal environment in which Western Potash aims to develop a world-class, major tonnage potash deposit.
