TORONTO (miningweekly.com) – German fertiliser giant K+S announced on Tuesday it had appointed Richard Wilson as CEO of Potash One, which it bought for C$434-million last year.
Wilson will on March 1 replace Alexa Hergenröther, who had been interim CEO at the potash subsidiary.
Potash One is developing the Legacy project in Saskatchewan, which its previous owners touted as Saskatchewan's first greenfield potash production facility in almost 40 years.
A feasibility study on Legacy last year envisaged production of 2,86-million tons of potash product yearly, starting in 2014. The material is used as a fertiliser.
Wilson, the former manufacturing vice-president for US firm Morton Salt, will lead the management team based in Saskatoon, K+S said.
Potash prices have climbed nearly 20% over the past 12 months from $312/ton in March 2010 to $368/ton this week.
TSX-listed competitor Agrium said last month record food prices in should encourage farmers to use more potash to boost crop yields and take advantage of higher prices, which could drive potash prices higher.