Over a five-year period from 2000 to 2006, world demand for potash has shown robust growth and the industry has recently been operating at about 90% capacity utilisation. If global demand grows at an average rate of 3.2% per annum, forecasted by industry analysts approximately 2 million additional tonnes will be required every year by potash consumers and capacity additions will be needed to meet future demand. Majority of growth is expected to come from BRIC countries. Only a limited number of potash producers have the available reserves to increase production. Uralkali will account for 28% of such an increased capacity. Potash deposits are scarce and Uralkali believes that the cost of a development of a greenfield potash mine is approximately US$2.2 billion for 2 million tonnes per year of potash while the estimated time for such development is at least seven years.