The Western Canadian province of Saskatchewan expects to post a slim budget surplus in the 2015-16 fiscal year, helped by changes in how it taxes potash mining companies, the government said on Wednesday.
The province is home to mines owned by Potash Corporation of Saskatchewan, Mosaic Co and Agrium Inc . Germany’s K+S AG and Anglo-Australian miner BHP Billiton PLC are building mines.
The Saskatchewan government’s 2015-16 budget is expected to hurt PotashCorp’s 2015 pre-tax earnings by C$75 million-C$100 million, the company said on Wednesday.