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Wednesday, August 25, 2010

Small fish in a big pond 

Oh, who cares about where the PCS head office is located, or how nicey-nice BHP Billiton is talking about how wonderful we are.
Here's what worries me about BHP taking over Potash Corporation of Saskatchewan.
Instead of our potash being owned by a company which needs to continue to mine it to make money, our potash would be owned by a company which could well afford to shut it down if they want -- maybe to sell it cheap to China, or maybe to play hardball with the province to cut royalties, or maybe for a thousand other reasons which make sense to BHP shareholders but hurt Saskatchewan.
As Jeffrey Simpson says "The company spans the globe. Potash will be but one part of a mining empire, and Potash Corp. will be but one part of that empire."
Saskatchewan's future will be a small fish in someone else's big pond.

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