Canadian officials say BHP Billiton buys Potash Shuin

"Caijing reporter Li Yan" November 17, Saskatchewan, Prov., Canada's assistant deputy minister of Energy and Resources, Hell Sanders (Hal Sanders) told Caijing reporter that the province is concerned about BHP's takeover of Potash Corp.　　After the introduction of potash, the implementation of the production plan led to a decline in potash prices, so strongly opposed, eventually led to the takeover plan aborted.　　BHP Billiton, the Australian mining giant, announced on November 15 that it was abandoning its bid to add potassium, although there was still plenty of time to close the deadline for the Canadian government to submit a supplementary programme.　　Hell Sanders, who attended the World Mining conference in Tianjin, told Caijing that Saskatchewan, Prov. was firmly opposed to the merger because BHP had claimed that its principle was to maximise production and sales as much as possible, which would cause losses to the province. Saskatchewan, Prov. Potash deposits account for about half of the world's proven potash deposits. Saskatchewan Potash is the main source of revenue for Saskatchewan, Prov.. Earlier, Brad Wall, the provincial governor of the province, publicly expressed his firm opposition to the merger, saying it would result in a tax loss of $6 billion ($ 1 trillion) of $1.01 in Canadian dollars.　　Polls also show that nearly 80% of Saskatchewan, Prov. are also opposed to selling Canadian companies to Australian companies. "These are non-renewable energy, you have only one chance to sell these resources, you have to make sure it has added value and it's good for the people of Saskatchewan."　　"Hell Sanders said.　　To this end, BHP Billiton has offered compensation for the next five years to invest 450 million U.S. dollars for exploration and development of new mines, the Jensen Project (Jansen) will spend more than previously promised, and for the Saskatchewan and New Brunswick Prov. Infrastructure Fund investment of 370 million U.S. dollars. BHP also pledged to give up the tax cuts it had previously enjoyed, and will retain the Canadian Potash Export Union (CANPOTEX) membership in the next five years after the approval of the Minister of Industry of Canada.　　The above two commitments are intended to eliminate any potential loss of revenue from Saskatchewan, Prov.. But these do not dispel the doubts of Saskatchewan. A lawyer close to the deal told Caijing that the province was worried that the success of BHP's takeover would weaken the former Trust group, the Canadian Potash Export Union, which would cause the province to lose its potash control.　　According to the People, Canada's mineral resources for the provincial assets, so the provinces of their mineral resources belong to a lot of discourse right.　　Still, the person said that the failure of the takeover did not mean that BHP would abandon the acquisition of potash altogether and that BHP could still make a comeback in the future. (Director editor: Mark)