Potash Corporation of Saskatchewan Inc. Potash Corporation of Saskatchewan Inc

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14D-9 Solicitation/Recommendation Statement Under Section 14(d)(4) o...
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SCHEDULE 14D-9 Solicitation/Recommendation Statement Under Section 14(d)(4) of the Securities Exchange Act of 1934 (Amendment No. 6)

Potash Corporation of Saskatchewan Inc. (Name of Subject Company)

Potash Corporation of Saskatchewan Inc. (Name of Persons Filing Statement) Common Shares, no par value (Title of Class of Securities) 73755L107 (CUSIP Number of Class of Securities) William J. Doyle President and Chief Executive Officer Potash Corporation of Saskatchewan Inc. 122 – 1st Avenue South, Suite 500 Saskatoon, Saskatchewan, Canada S7K 7G3 (306) 933-8500 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of the Persons Filing Statement) Copies to: Robert A. Profusek Philip S. Stamatakos Jones Day 222 East 41st Street New York, New York 10017 (212) 326-3939

William Braithwaite Stikeman Elliott 5300 Commerce Court West 199 Bay Street Toronto, Ontario, Canada M5L 1B9 (416) 869-5500

Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

This Amendment No. 6 amends and supplements the Solicitation/Recommendation Statement on Schedule 14D-9 filed with the Securities and Exchange Commission on August 23, 2010 (as amended or supplemented, the “Statement”) by Potash Corporation of Saskatchewan Inc., a corporation organized under the laws of Canada (“PotashCorp” or the “Company”). The Statement relates to the offer (the “BHP Offer”) by BHP Billiton Development 2 (Canada) Limited (“BHP”), a corporation organized under the laws of Canada and a wholly owned indirect subsidiary of BHP Billiton Plc, to purchase all of the issued and outstanding common shares, no par value (the “Common Shares”), of PotashCorp, together with the associated common stock purchase rights. Item 9. Exhibits. Item 9 of the Statement is hereby amended and supplemented by adding the following exhibit: Exhibit No.

(a)(14)

Description

PotashCorp investor presentation. 2

SIGNATURE After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: September 10, 2010 POTASH CORPORATION OF SASKATCHEWAN INC. By: /s/ Joseph Podwika Name: Joseph Podwika Title: Senior Vice President, General Counsel and Secretary 3

EXHIBIT INDEX

Exhibit No.

(a)(14)

Description

PotashCorp investor presentation.

Exhibit (a)(14)

Wayne Br ownlee Executive VP & CFO I nvestor Pr es entation September 10 , 2010

Forwar d -Lookin g Statements T his p resentati on contains for ward- looking s tatements or f orwar d-looking in form at ion (f orwar d- looking s tatements ). T hese s tatements are bas ed on certain f acto rs an d ass umptio ns in cl uding f oreign exchange rates , expected growt h, res ults of oper at ions , perfor mance, bus iness pro spects , valuation and o pportun ities and ef fective incom e t ax rates. Wh ile the company cons iders thes e factors and as sum ptions to be reas onable based o n infor mation cur rently avail abl e, they may pro ve to be incorr ect . Several f acto rs co uld cause actual r es ults to d iffer materiall y fro m thos e ex pres sed in t he forwar d-looking s tatements , includi ng, but not limited to : futur e act ions taken by BHP Billit on, Potas hCorp or s hareholders of Potas hCorp in conn ecti on with, or in res pons e to, BHP Billi ton's un soli ci ted off er ; fl uct uations in s upply and demand i n fert ilizer, s ulfu r, tr ans por tation and petr ochemical markets ; changes in co mpetitive pr ess ures , includi ng pricing pres sur es ; th e r ecent global f inancial cris is an d conditions and changes in credit m arkets ; the res ults of s ales co ntract negotiati ons wi th China and Ind ia; timin g and amount of cap ital expenditur es; r is ks as so ci at ed with natur al gas and ot her hedging activi ties; ch ang es in capital markets and corr es pondin g ef fects on the company's invest ments ; changes in cur rency and exchange rates ; unexpected geologi cal or envir onmental condit ions , including water inflo w; st rikes and other f orms of work s toppage or slo wdowns ; chan ges in and the effects of, go vernment po licy and regulati ons; an d ear nings , exchange rates an d the decisi ons of taxing auth orities , all of which could af fect our ef fective tax r at es . Addi tional ri sks and uncertain ties can be f ound in our For m 10 -K for t he fis cal year ended Decem ber 31, 200 9 under caption s "For ward -Lookin g Statements " and "I tem 1A - Ris k F acto rs " and in our oth er fil ings with the US Securities and E xchange Com mis sio n an d Canadi an p rovincial s ecurit ies comm iss ions . For ward - looking s tatements are given on ly as at t he d at e o f this pr es entation and the company dis claims any obligati on to update or revis e the for ward- looking s tatements , whether as a res ult of new infor mation, f utur e events or otherwis e, except as r equired by law.

Long T erm F ertili zer Mar ket Driver s S olidly i n Place

Bil lion Peopl e Source: Uni ted Nations World P opulation Growth App roximately 75 M illion Add itional P eo ple to Feed E ach Year Forecas t

Source: Uni ted Nations , IM F E conomic Outl ook, Potas hCorp P ercentage of Wor ld Popu lation Wor ld Econom ic Growth Prof ile Arou nd 75 Per cent o f Worl d Populati on In Count ies With GDP Gro wth Above 5 Per cent Annual Per cent GDP Growt h 2010 -2014F

Source: F AO, IM F KCal/P er son /Day Relati onsh ip Bet ween P er Capita GDP and Calor ic Intake Ris ing I ncome Levels Have a Direct Im pact on Food Cons umpt ion US China I ndia Brazil $US GDP Per Capi ta Rapi d growth in cal oric cons umpti on at lower per capi ta GDP levels . Oppor tunity t o impro ve quantity and quali ty of d iets as developing coun tries experience real economi c gr owth.

Source: US DA, FAO, UN, P otashCor p Grain, Oi lseed, F ruit and Vegetabl e Cons umpt ion Popu lation and E conomic Development Drive Foo d Co nsum ption Gr owth Fr uit and Vegetable Cons umptio n Grain and Oil seed Cons umption Bil lion T onnes

Source: F er tecon, IF A, Potas hCorp M illi on Nutr ient Ton nes Wor ld Fert ilizer Cons umptio n Ferti lizer Cons umption Gr owth Clos ely T ied to Ris ing Food Dem and For ecas t

Near Term Mar ket Fundament al s I mprovi ng Rap idly

Percent Per cent Source: US DA World Grain St ock s -To -Use Ratio Based on cr op year data. F or example, 201 0F ref ers to the 2010/1 1 crop year. Gr ain includes coars e grains and wheat. 25 Year Aver age 25 Year Average St rong Demand and P roducti on Is su es In Key Growing Region s Have T ightened St ock s

Percentage Incr eas e Compared to 2 000 -2009 Average Agr iculture Comm odity P rices Hi gher Pr ices Refl ect t he Long -term Challenge of Meeting Ris ing F ood Demand S ource: Worl d Bank

Food Pr ice Index: 2 002 -2004 Eq ual s 100 Source: F AO Global F ood Pr ice I ndex Food Infl at ion Concerns Have Retu rned in Recent M onths 5% per cent Mo/ Mo I ncrease i n Augus t 16% p er cent Yr/Yr Incr eas e in Augus t

Source: US DA, Potas hCorp Retur n over Vari abl e Cos ts - $US/Acre US National Average Cor n Econom ics P otential fo r Reco rd Returns E xpect ed to Supp ort S trong F ertili zer Application Rates 2010F s cenarios ref er to the 20 10/11 crop year .

Source: I PNI, Potas hCo rp Nor th American P otash P roducer Shipment s P otash Demand G ai ning M omentum 0 00 MT KCl - 12 Mo nth Rolling A v.

Source: I PNI, Potas hCo rp E sti mates M illi on Ton nes KCl Nor th Ameri can P otash Produ cer Endi ng Inventor y Str ong Demand E xpected to T ighten I nventory L evels Forecas t Sc. 2 Fo recast S c. 1

Source: F er tecon, Publ ic Filin gs, P otashCor p M illion T onnes KCl - 2009 Global P otash Oper ational Capabilit y* Lim ited Number of Pr oducing Regions * E st imated annual achievable prod uct ion level.

Source: F er tecon, Publ ic Filin gs, P otashCor p M illion T onnes KCl Global Po tash Oper ational Capability* Excludi ng Potas hCorp, L imit ed N ew Op er ational Capability Expected * E st imated annual achievable prod uction level f rom exis ting operations ; announced pr obable and pos si ble brownf ield pro ject s; as s uming typ ical ramp -up periods fo r new capaci ty. Pr obable and pos sib le projects based on Potas hCorp's v iew of pr oject probabi lities . Pro bab le Proj ects

Source: F er tecon, Publ ic Filin gs, P otashCor p M illion T onnes KCl World P otas h Supply/ Dem and * Es tim at ed ann ual ach ievab le productio n level fr om exis ting oper at ions an d announced probabl e and poss ible br ownfield projects . Based on P otashCor p's view of proj ect probabili ties. S cen ar io 1 bas ed on 3.0 per cent dem and CAGR 20 00 -2020 Scenario 2 based on 3 .5 percent demand CAGR 2000 -2020 Ex pect Retur n to S upply -Chall eng ed Indus try

Source: F er tecon, Publ ic Filin gs, P otashCor p M illion T onnes KCl World P otas h Supply/ Dem and Expect Retur n to Sup ply -Chall eng ed Indus try * Es timated annual achievable pr oduction l ev el from exist ing operati ons and anno unced probable and pos s ible bro wnfield pr ojects . Bas ed on Pot as hCorp s' view of project pr obabiliti es . Scenar io 1 bas ed o n 3.0 percent demand CAGR 2000 - 2020 Scenario 2 based on 3 .5 percent demand CAGR 2000- 2020

Source: Wor ld Bank, Fert econ, Potas hCo rp Wor ld Operating Rate* - Percent Wor ld Crop P rices; Potas h Operating Rate and P rices F undamentals Ex pected t o Suppor t Higher Potas h Pr ices * Based on percentage of oper ational capability FOB Vanco uver Spo t - $US/tonn e Gl obal Crop P rice Index* ( 2000 = 100) * I ncludes : Cocoa, Cof fee, T ea, S ugar, Bananas, Wheat, Rice, Corn, Palm Oil , Soybean, Cotton and Rubb er

Potas hCo rp Oppor tunity

Our Oppor tunity Begins with a "P otash F irs t" Str at eg y Growing Our Value T hrough Five -Way P otash Leverage 1 P rice Appreciatio n Demand growt h puts pres sur e on exis ting glob al potash suppl y, leading to an im proved pr icing envir onment. 2 Vo lume Growt h Expect to near ly doubl e o ur 2005 o per ational capabilit y by 2015, accountin g for the larges t port ion of new global s upply. 3 Cos t Savin gs New oper ational capability to car ry l ittle additi onal fixed op er ating cos ts . As vol umes i ncrease, per - tonne fixed cos ts decrease. 4 T ax Benef its Only f irs t 5.7 mi llion to nnes of our S K potas h sol d is subject t o provin ci al prof its tax. As v olumes increase, per -tonne taxes d ecr eas e. 5 Off sh ore Inves tments E ar nings potenti al and market value of equity inv es tment s als o benefit from potash price appreciatio n an d volume gr owth. Relative Im pact on Ear nings

Cos t per tonne ($CDN) Sour ce: P otash Cor p Potas hCorp Br ownfield Potas h Co nstr uction Cos ts Lower Cos t P rojects Completed; New Brownf ield T onnes M or e Capit al Intens ive Pot as hCorp Projects Completed ( 2005 -2009) P otashCor p Pr oject s I n Pr ogres s ( 2010 -2015) 0.7 5 MM T * 0.36 M M T* 1.50 MM T * 0.40 M MT * 1.00 M M T* 2.20 M MT * 1.20 M M T* 1.20 M MT * * In cl udes, as applicable, both bringin g back previous ly id led capacity and ex pansion s to capacity and d oes not neces sar ily r ef lects cur rent oper ational capability . 2.70 M MT * ** New Brun swick cos ts per tonn e b as ed on 2M M T m ine (not n et capacity addi tion of 1.2M MT )

$US M illions Sas katchewan Greenfi el d Potas h Capital Cost s We Believe New Ent rants Would Be At Higher End o f Cost Range S ource: Po tashCor p * Bas ed on 2m mt per - year mine; cos ts co uld vary dependi ng on convention al vs. s olut ion mine, depth of or e b ody, geographi c l ocat ion, etc. ** Dependent on g eo graphic location, acces s and di stance to por t. I ncl udes li nks t o rail, r ailcars , roads , utili ty sy stems , por t facilit ies, etc. *** Bas ed on publi cl y repor ted cost o f recent pur chases . $0.0M -$1.0B $0.6M - $1.2B $3.5B-$5.0B $2.8B

Source: P otashCor p $US/t onne Netback Requi red (f ob mine) Saskatchewan Brown field and Gr eenf ield S ens iti vities Signif icant Cost an d Tim e A dvantage for Br ownfield Proj ects As sum ptions : Brownf ield: 1- million -tonne proj ect cons tr ucted in Sas katchewan, excl uding cos t of i nfr as tr uct ure; 5 year con str uction and r am p- up timeline; does not include prof it tax s avings fr om imm ed iate CAP EX deducti on Greenfi el d: 2- million -tonne proj ect cons tr ucted in Sas katchewan, plus cost o f inf rast ructur e; minimu m 7 year developm ent and ramp - up timelin e; $US/CDN at par P otash Cor p Q2 2010 Net back = $309/M T Co nstr uction Cos t Per Tonne E st imated netback range r eq uired f or a SK gr eenfield po tash pr oject

Source: F er tecon, Briti sh S ulphur , IFA, P otas hCo rp M illion Tonnes KCl - 2009 to 2014 World P otash P roducer Prof ile Pot as hCorp Growth P otential is Unmatched P otashCor p Potas hCorp in ves tment s: I CL ( 14%) , APC (28% ), S QM ( 32% ) and Si nofert (22% ) Note: P otashCor p based on operational capabili ty (what we could phys ical ly produ ce) while competit or capacity is st at ed nameplate, which may exceed operation al capabil ity

Source: P otashCor p M illion T onnes KCl Potas hCorp's Operational Capabilit y Near ly Doubl ing Our Capabili ty Bet ween 2005 and 2015 * O per ational Capability - es tim at ed ann ual achi ev abl e productio n level

Source: P otashCor p M illion T onnes KCl Potas hCorp's Growth Opp ortuni ty Exp and ing Capability P rovides Sig nificant Opp ortunit ies f or E arnings Gr owth Operatio nal Capabil ity Operati onal Cap abi lity 3.5M M T o f exis ting "paid f or" operating capabil ity 5.9M M T of additional o per ational capabilit y in pro gres s - of which 40% of capit al expenditur es already comp lete POT Sales F orecast

Source: P otashCor p Potas hCorp's Per - tonne Cas h Oper at ing Cost Sens itivity Expans ion Pr ojects Expected T o Result In Cos t Savings As Operating Rates Rise P er centage Per- tonne Cas h Cos t Savings Based on co mpletion of expansi on proj ects ; per cent age r eduction f rom 200 7/08 levels Pos t-exp ans ion cos ts not adjus ted f or inf lation; r oyalties (im pacted b y chan ges in p otash pr ice); or impacts fr om US/CDN exchange rate changes

Source: P otashCor p Potas hCorp P rovincial Mini ng Tax S ensit ivity T ax Rat es Ris e as CAPE X Declines, b ut Off set by Higher S al es Volum es $300 GM/t onne $500 GM /tonne $70 0 GM/ tonne Percentage of Potas h GM 60% o f Capability 10 0% of Capabil ity 80% of Capabilit y

Mil lion T onnes KCl S ource: Fer tecon, Publ ic Filing s, P otashCor p Potas hCorp Of fs hore I nvestm en ts I ncreased E xpos ure to P otas h Mar ket Growth Thr ough Str ategic Inves tments Capaci ty Sinof ert Oth er Percentage of Chinese P otash I mpor t Volume P otashCor p inves tments : ICL (14% ), APC ( 28%) , SQM (32% ) and S inofer t (22% ) 50 - 60% 40%

Source: Bloom berg, Po tashCor p $US M illio ns I ncremental Value of Our I nvestm ents* Gener ating Fi nanci al Value: $8.5 Billi on in M arket Value* Wor th $28 P er Shar e * Bas ed on s hare prices as at S eptember 9, 2 010 M ar ket Value

Potas hCo rp Has World Clas s Ni trogen and P hosp hat e Ass ets P otas hCor p Phos phate Rock Reser ve Lif e* Year s M ill ion To nnes P roduct *P roven and pr obable res erves permit ted an d to be perm itted as o f December 31, 20 09 Low - cos t Wes tern Hemis phere Am monia Capaci ty *T ringen is the Gover nment por tion only Source: Blue, J ohns on & As s ociates, F er tecon, Publ ic Filin gs, P otashCor p Well Pos iti oned to Benefit f rom I mpro ving Fer tilizer M arket F undamentals

Source: P otashCor p $US Bill ions Potas hCo rp E BI TDA Gr owth P otential Sub stanti al Earn ings Leverage Fr om Higher Potas h Pr ices and Vol umes $US Billions E BI TDA P otential S cenar ios (at 2011 Oper ational Capability) * E BI TDA P otential S cenar ios ( at 2015 Oper at ional Capability) * * As sum ptions include: gr oss mar gin for phos phate and nitr ogen between $0.5 - $1.0 Billion (USD) ; and PP T as a percentage of pot as h gr oss marg in: 2011 ( 6 -14 percent); 2015 (13 - 20 percent)

Thank you. Potas hCo rp.com

Impor tant Inf orm at ion Th is pr esentati on is neither an of fer to purchas e nor the s olicitati on of an of fer t o sell an y securi ties. On Augus t 23, 2010, P otash Cor p fi led a soli ci tation/r ecom mendation s tatement on S ched ule 14D -9 with the S ecur ities and Exchange Comm iss ion ( the "SEC") wi th res pect to the of fer to purchas e com menced by BHP Billito n Devel opment 2 ( Canada) Lim ited, a wholly -owned subs idi ar y of BHP Bi lliton P lc. Inves tors and s ecurity h olders of P otashCor p are urg ed t o read the s olicitatio n/recommendati on st at em en t and any other r elevant documents fi led with the S EC, because th ey con tain impor tant inf ormati on. Inves tors and s ecurity h olders may obtain a f ree copy of the sol icitation/r ecom mendation s tatement and ot her documents that P otashCor p fil es with the SE C t hrough t he webs ite m ai ntained by the S EC at www.s ec.go v and thro ugh the webs ite maintained by P otas hCor p at www.potas hcorp. com . In addit ion, the s olicitatio n/recommendati on st at em en t and other d ocu ments filed by P otash Cor p with t he SEC may b e ob tained fr om Potas hCorp f ree of char ge by dir ecti ng a reques t to Pot as h Corp oration of Sas katchewan Inc., 122 - 1st Av en ue S outh, S uite 500, S as katoon, Saskatchewan, Canada S7K 7G3, (306) 933-8500.

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