Cory

Location
Saskatchewan, Canada

Operator
Nutrien Ltd.

Commodity
Potash

Asset Profile
2019 Royalty Revenue C$1.1 million
Nameplate Capacity 2.7 million tonnes per annum
Estimated Mine Life 76 years (Proven and Probable reserves)

The Cory mine is a conventional underground mining operation located approximately 11 km southwest of Saskatoon, Saskatchewan. Potash ore is excavated underground and transported by conveyor belt to the bottom of the production shaft and hoisted to the mill where it is processed into the final concentrated muriate of potash (KCl) product. The mine has undergone two phase expansions resulting in nameplate capacity of 2.7 million tonnes of muriate, while 2019 finished potash production was 0.973 million tonnes. Royalty rates for all the potash assets are set by the province of Saskatchewan (3% in 2019), and are the function of the number of tonnes owned under unitization agreements × price × indexed multiplier. See The Subsurface Mineral Royalty Regulations, 2017