Canpotex and Sinofert Sign New Contract

SASKATOON, June 29, 2011 /PRNewswire/ – Canpotex Limited (Canpotex) today
signed a contract with Sinofert Holdings Limited (Sinofert) to supply
630,000 tonnes of potash during the second half of calendar 2011 at
price levels which reflect an approximate $70.00 per tonne increase
above the first half China price level.

The contract is the second concluded under the new three-year Memorandum
of Understanding (MOU) signed with Sinofert in October, 2010. The
contract volumes are at the low end of the MOU range reflecting
Canpotex’s tight potash supply position. Canpotex is now fully
committed for sales in the third quarter of 2011, and has significant
volumes confirmed for the fourth calendar quarter.

“Given Canpotex’s long-term presence in China, this new contract
demonstrates, yet again, the value we place on this market,” stated Mr.
Steve Dechka, Canpotex’s President and Chief Executive Officer.

Sinofert is China’s largest integrated agricultural company. As a
long-term business partner, Sinofert collaborates with Canpotex in
delivering market development programs that provide farmer education to
improve yields through balanced fertilizer applications and other best
farming practices.

Operating continuously since 1972, Canpotex is the exclusive offshore
marketing company owned by the three Saskatchewan potash producing
companies: Agrium Inc. (TSX and NYSE: AGU), Mosaic Canada Crop
Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and
Potash Corporation of Saskatchewan Inc. (TSX and NYSE: POT).

SOURCE Canpotex Limited