Saskatchewan’s potash industry has grown dramatically and changed rather less in the seven decades since the potassium-rich salts were discovered deep beneath the bald prairie.
The fertilizer is still mined deep underground using conventional methods, then shipped to developing countries, where it’s used to nourish crops and feed a growing global population.
Mike Ferguson knows the established model works. The engineer from Regina spent years working in the province’s potash industry, and helped develop what he now believes is the last mine of its generation: K+S Potash Canada’s Legacy Project. But he believes it could be better.
“Legacy was the last of the steam engines, and this is the first version of the Tesla, and it will absolutely change how this stuff is mined,” he said of the new project he helms, Gensource Potash Corp.
Formed in 2012 by members of PotashOne — which developed Legacy before selling it to K+S for $434 million — and Nexxt Potash Inc., Gensource is planning to disrupt the global potash industry with a new business plan.
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