The mine which is owned since 1995 by PotashCorp, the world's largest potash producer and the second and third largest producer of nitrogen and phosphate, has an annual production capacity of over six million tonnes of phoshpate ore.

Product from its Canadian mines is exported through Canpotex, an export association of Canadian potash producers.

This ushered in a "boom" in potash mining and several large potash producers set up business in the area.

In early August, first deputy prime minister of Belarus Vladimir Semashko denied that the government was discussing a $7.5bn bid from Kerimov for 51pc of the country's largest potash producer, Belaruskali.

Together they form one of the world's largest potash producers.

The world's largest publicly traded uranium company, Cameco, and the world's largest potash producer, PotashCorp, have corporate headquarters in Saskatoon.

The company is the world's largest potash producer and the third largest producers of nitrogen and phosphate, three primary crop nutrients used to produce fertilizer.

This plan was resisted by the potash producers, and its constitutionality was challenged.

Rybolovlev owned the potash producer Uralkali and recently started to invest into the French football club AS Monaco.

In December 2010, Uralkali announced plans to buy Silvinit; together they would form one of the world's largest potash producers.