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1961 1965 Supply and Demand Million tons KCI 80 60 40 20 Global Potash Consumption 1969 1971 1973 1976 1979 1981 1983 1985 1987 1989 1993 1995 1997 1997 2000 2003 2005 2007 2009E 2011E 2015E Potash demand will continue to be driven by population growth, decrease in 700 available arable land and decreasing yields Potash Price 600 500 2009 contract price to India USD 625 / tonne and to Brazil USD 725/ tonne Jan. 5 2010 (Bloomberg) -- Potash Corp of Saskatchewan Inc. and Uralkali of Russia will lead a rebound among suppliers of the crop nutrient, with sales volumes in the industry potentially doubling in 2010, according to Credit Suisse. USD/t 400 300 200 100 0 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 ELEMENTAL MINERALS LIMITED Production and Demand . Worldwide potash production 2009: 54 Mtpa Canada produced 37% Former Soviet Union produced 30% Healthy growth in potash demand: • 2011 projected 60 Mt 2011-2018 CAGR 3.5%, i.e. 76Mt in 2018. Source: IFA, British Sulphur, Deutsche Bank 36

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