Potash miners settle U.S. antitrust cases, deny wrongdoing

The three biggest Saskatchewan potash producers have settled antitrust lawsuits in the United States, but deny they did anything wrong.

CALGARY — The three biggest Saskatchewan potash producers have settled antitrust lawsuits in the United States, but deny they did anything wrong.

Saskatoon-based Potash (TSX:POT) and Plymouth, Minn.-based Mosaic Co. said in separate releases Wednesday they will each pay a total of $43.75 million to settle the claims, which have been pending since 2008.

Calgary-based Agrium (TSX:AGU) said in its own release it will pay a total of US$10 million to settle claims by plaintiffs who alleged pricing of the crop nutrient potash violated antitrust laws.

The settlements are subject to court approval.

The three fertilizer companies deny any wrongdoing and say they decided to settle to avoid the cost and distraction of a protracted legal fight.