The global potash market is dominated by Canada, the world’s leading potash producing country. In 2025, Canada produced 15 million metric tons of potash, nearly one third of the global output of 49 million metric tons.The potash supply chain has faced difficulties in the past few years, including challenges related to the COVID-19 pandemic and Russia’s invasion of Ukraine.In 2026, the sector has been affected by the escalating Canada-US trade dispute. While potash has so far been exempt from US tariffs on Canadian goods as of September 2026, it remains unclear how long that will last.That month, US President Donald Trump said the US was working on a deal to buy cheaper potash from Belarus, the world’s fourth-largest potash country. The announcement was controversial due to the country’s ties with Russia. However, Belarus quickly responded it does not have the capacity to sell potash to the US. Trump walked back the declaration the next day, saying that the US would continue to source potash from Canada.Potash producers continue to push ahead despite headwinds, and potash exploration and development companies are working hard at projects that can take advantage of rising demand for agricultural products.For those interested in investing in the potash market, here’s a list of Canadian potash stocks listed on the TSX and TSXV. Potash companies are listed from largest to smallest, and all had market caps of at least C$10 million as of September 28, 2026.
1. Nutrien (TSX:NTR)
Market cap: C$48.66 billionNutrien is Canada’s biggest potash company by far, and the world’s largest producer of the fertilizer mineral. The company was formed on January 1, 2018, after Potash Corporation of Saskatchewan and Agrium completed a merger of equals. Nutrien is a leading provider of crop inputs and services, with an agricultural retail network that services more than 600,000 grower accounts.The potash-mining company produces a variety of different materials, but in terms of potash production it has over 20 million metric tons of capacity at its six potash mines in Saskatchewan.
2. Millennial Potash (TSXV:MLP)
Market cap: C$295.02 millionMillennial Potash holds an 80 percent interest in the Banio potash project, which it is developing on the Atlantic coast of Gabon, West Africa. It has an earn-in agreement with The project’s December 2025 resource estimate includes measured resources of 648.2 million metric tons grading 15.7 percent potassium chloride, and indicated resources of 1.8 billion metric tons grading 15.6 percent potassium chloride. The project also holds substantial inferred resources of 3.56 billion metric tons at a grade of 15.6 percent.A definitive feasibility study is underway, evaluating a solution mining operation with a base production rate of 800,000 metric tons of muriate of potash (MOP) per year. The US International Development Finance Corporation has committed US$3 million toward the study’s costs. Once the study is completed Millennial will earn the final 20 percent interest in project owner Equatorial Potash. Millennial expects to complete the study by the end of 2026 and apply for a mining license in early 2027.
3. Gensource Potash (TSXV:GSP)
Market cap: C$71.75 millionGensource Potash’s Vanguard area and Lazlo area are located in Saskatchewan.The company’s main asset, the Tugaske potash project in the Vanguard area, is its central focus. Once in operation, it will create no salt tailings and will require no brine ponds. In July 2026, Gensource announced that it was carrying out a technical refresh of the project that will increase minimum capacity to 500,000 metric tons of MOP per year, doubling the previous target. In February 2026, it signed an exclusivity agreement with a Southeast Asian conglomerate that contemplates funding the project through construction and commissioning, alongside a long-term supply agreement.
4. Verde AgriTech (TSX:NPK)
Market cap: C$43.46 millionVerde AgriTech is a company focused on producing low-carbon specialty fertilizers for the agriculture industry in Brazil and global markets. Its main asset is Cerrado Verde in the state of Minas Gerais, which entered production in 2017. The operation hosts a measured and indicated resource of 1.47 billion metric tons grading 9.28 percent potassium oxide. The company is licensed to produce up to 2.8 million metric tons per year of its multi-nutrient potassium fertilizers.In 2025, the company reported sales of 258,432 metric tons of its fertilizers, down from 318,870 metric tons in 2024. It attributed the decline to tight credit conditions in Brazilian agriculture.
5. Sage Potash (TSXV:SAGE)
Market cap: C$24.14 millionSage Potash is developing its flagship project the Sage Plain potash property in the Paradox Basin of the US state of Utah, with the goal of supplying US potash demand. The company is planning to use solution mining rather than a more conventional underground process.According to a 2025 preliminary economic assessment, the operation was evaluated with an initial annual capacity of 300,000 metric tons of potash production. As for project economics, the report estimates a post-tax net present value of US$502 million with an internal rate of return of 39 percent. The included inferred mineral resource was 298 million metric tons of ore grading 42.1 percent potassium chloride, or 26.6 percent potassium oxide.Sage is advancing the project towards an updated resource estimate and pre-feasibility study that will evaluate an operation with higher capacity.
This is an updated version of an article originally published by the Investing News Network in 2015.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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