Potash (NYSE:POT) Expanding Capacity in Saskatchewan

Potash (NYSE:POT) chief financial officer Wayne Brownlee said the company will be committing $1.4 billion for expansion of capacity at projected in Saskatchewan in 2010.

Brownlee said at this time the projected are at a 32 percent completion rate. He added this will surpass the $1.2 billion spent in 2009.

Expectations are spending should stabilize at $1.4 billion for 2011 as well.

Traders have been buying puts on Potash lately, and the share price was $95.58, down 2.12 or 2.17%, as of 1:41 PM EDT.