Potash Corporation is the world's largest producer of Potash which is primarily used in making fertilizer as it acts as crop nutrient.
It is also third largest producer of nitrogen and phosphate again used in fertilizers. It is headquartered in Saskatchewan; Canada.It currently owns 60% of world's potash producing capacity. History of Potash Corp traces back to 60s where huge potash reserves were discovered in Saskatchewan. This followed by American companies setting up refining units and exporting Potash from Saskatchewan. Potash being a natural resource the contracts were awarded by government to these companies. Due to over-production prices of Potash crashed and to avoid this situation government introduced a reserve tax for the companies. Noting resistance from the company government incorporated Potash Corp in 1975 to handle Potash operations in Saskatchewan. However government divested the stake owing to financial troubles of the company in 80s and currently more than 60% of the company's share is owned by institutional investors
In 90s Potash Corp expanded through series of acquisition of companies in America like Potash Company of America, Florida Favorite Fertilizer, Texasgulf, and Arcadian Corporation.Currently it owns Potash mining operations in Canada, America, Brazil and Middle-east bringing it in direct competition with mining giant BHP Biliton which tried to acquire Potash Corp in 2010 but was stalled by Canadian government. The performance of the company is widely depended on Potash price in the market. For ex : in 2008-10 when Potash prices were inflated, Potash Corp became the largest company of Canada by market capitalization and its CEO became the highest paid CEO of Canada. Only in july 2014 the company underwnet a succession change when Jochen Tilk became the new CEO.