5 Canadian Potash Stocks

Market cap: C$37.81 billion

Formed on January 1, 2018, after Potash Corporation of Saskatchewan and Agrium completed a merger of equals, today Nutrien is Canada's biggest potash company by far. Nutrien bills itself as the world's largest provider of crop inputs and services, with an agricultural retail network that services more than 500,000 grower accounts. The firm states that it is "committed to providing products and services that help growers optimize crop yields and their returns."

The potash-mining company produces a variety of different materials, but in terms of potash production it has over 27 million metric tons of capacity at its six potash mines in Saskatchewan.

Market cap: C$44.77 million

Verde AgriTech is an agri-tech company focused on making innovative products that promote sustainable agriculture. Its main asset is Cerrado Verde, which holds Brazil’s largest identified potash deposit, with an NI 43-101 resource of 3.32 billion metric tons.

Production began at Cerrado Verde in May 2017, and the company later exported its first shipment of Super Greensand, a fertilizer and soil conditioner, to US cannabis and organic markets. As a fertilizer it provides potassium, magnesium, silicon, iron and manganese, and as a soil conditioner it increases the capacity of soil to retain water and nutrients.

Market cap: C$33.73 million

Gensource Potash's Vanguard area and Lazlo area are located in Saskatchewan.

The company's main asset, the Tugaske potash project in the Vanguard area, is its central focus. Once in operation, it will create no salt tailings and will require no brine ponds. The completed feasibility study shows the operation will be one of the lowest cost potash producers.

According to the company, the environmentally friendly asset is expected to produce a minimum of 250,000 metric tons of muriate of potash (MOP) per year. Gensource has a 10-year offtake agreement for Tugaske with agricultural chemical company HELM.

Market cap: C$16.36 million

Western Resources and the company's wholly owned subsidiary Western Potash are working to build an environmentally friendly and capital-efficient potash solution mine at the Milestone project in Saskatchewan.

Milestone is close to Mosaic's (NYSE:MOS) Belle Plaine mine, which is one of the largest-producing potash solution mines in the world. In May 2023, Western Potash gained approval for its restart project to extend Milestone's mine life from 12 years to 40 years. Phase 1 of the project was 93 percent complete as of May 2024 before being placed on hold as the company looks to secure further funding.

Market cap: C$14.02 million

Sage Potash is developing its flagship project the Sage Plain potash property in the Paradox Basin of the US state of Utah. Rather than underground or strip mining, the company will use in-situ solution extraction of potash-rich brine to the surface for solar or mechanical evaporation and granulation. Once in operation, the project is estimated to produce 150,000 metric tons of potash annually, with plans to expand.

The project is transitioning into the construction phase and commissioning of its Muriate of Potash pilot plant with the purchase of equipment, and strengthening its management team. Construction is expected to begin in Q2 2025.