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<DIV align="center" style="font-size: 10pt; margin-top: 12pt">As
filed with the Securities and Exchange Commission on May&nbsp;4, 2007</DIV>

<DIV align="center">
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    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></DIV>


<DIV align="center" style="font-size: 20pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 20pt; margin-top: 12pt"><B>POTASH CORPORATION OF SASKATCHEWAN&nbsp;INC.</B>
</DIV>

<DIV align="center" style="font-size: 8pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><FONT style="font-size:10pt"><B>Canada</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:10pt"><B>N/A</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>122 &#150; 1<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> Avenue South<BR>
Saskatoon, Saskatchewan, Canada S7K 7G3</B></DIV>

<DIV align="center" style="font-size: 8pt">(Address, including zip code, of Principal Executive Offices)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Potash Corporation of Saskatchewan Inc.<BR>
2007 Performance Option Plan</B></DIV>

<DIV align="center" style="font-size: 8pt">(Full title of the plan)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>William J. Doyle<BR>
Potash Corporation of Saskatchewan Inc.<BR>
122 &#150; 1<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> Avenue South<BR>
Saskatoon, Saskatchewan, Canada S7K 7G3</B></DIV>

<DIV align="center" style="font-size: 8pt">(Names and address of agent for service)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(306)&nbsp;933-8500</B></DIV>

<DIV align="center" style="font-size: 8pt">(Telephone number, including area code, of agent for service)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><I>Copy to:</I><BR>
<B>Robert D. Avery, Esq.<BR>
Jones Day<BR>
77 West Wacker<BR>
Chicago, Illinois 60601<BR>
(312)&nbsp;782-3939</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="1%"></TD>
    <TD width="45%"></TD>
    <TD width="2%"></TD><!-- VRule -->
    <TD width="2%"></TD>
    <TD width="10%"></TD>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="2%"></TD><!-- VRule -->
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="2%"></TD><!-- VRule -->
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="2%"></TD><!-- VRule -->
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="5%"></TD>
    <TD width="1%"></TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="21" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD nowrap align="left"><B>&nbsp;</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount to be</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount of</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>Title of Securities to be Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registered (1)(2)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Per Unit (3)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price (3)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registration Fee&nbsp;&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Shares, no par value</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 2px solid #000000">1,000,000 shares</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" colspan="4" style="border-right: 2px solid #000000; border-top: 2px solid #000000">$188.20</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" colspan="4" style="border-right: 2px solid #000000; border-top: 2px solid #000000">$188,200,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" colspan="2" style="border-top: 2px solid #000000">$5,778</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="21" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Consists of Common Shares of Potash Corporation of Saskatchewan Inc. (the &#147;Registrant&#148;) to
be issued pursuant to the Potash Corporation of Saskatchewan Inc. 2007 Performance Option Plan
(the &#147;Plan&#148;).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>This Registration Statement also covers, pursuant to Rule 416(a) under the Securities Act of
1933, as amended (the &#147;Securities Act&#148;), an indeterminate number of additional Common Shares
that may result from subdivisions, consolidations or reclassifications of the Common Shares,
the payment of share dividends by the Registrant, or other relevant changes in the capital of
the Registrant in accordance with the provisions of the Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for purposes of calculation of the registration fee, based upon the exercise
price of options denominated in U.S. dollars pursuant to Rule 457(h) under the Securities Act
of 1933.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents previously filed by the Registrant with the Securities and Exchange
Commission (the &#147;Commission&#148;), are incorporated by reference in this Registration Statement:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31,
2006, filed with the Commission on February&nbsp;27, 2007.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Registrant&#146;s Common Shares contained in the
Registrant&#146;s Current Report on Form 8-K filed with the Commission on December&nbsp;21,
2001.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all of the Registrant&#146;s reports filed with the Commission pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;),
after the date of this Registration Statement and prior to filing a post-effective amendment which
indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such reports.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained herein or in a document incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained in any subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;124 of the Canada Business Corporations Act authorizes corporations to indemnify past
and present directors, officers and certain other individuals for liabilities incurred in
connection with their services as such (including costs, expenses and settlement payments) if such
individual acted honestly and in good faith with a view to the best interests of the corporation
and, in the case of a criminal or administrative proceeding, if such individual had reasonable
grounds for believing his or her conduct was lawful. In the case of a suit by or on behalf of the
corporation, a court must approve the indemnification.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11(4) of the Registrant&#146;s bylaws provides that the Registrant shall indemnify
directors and officers to the extent required or permitted by law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has entered into agreements with its directors and officers (each an
&#147;Indemnitee&#148; under such agreements) to indemnify the Indemnitee, to the extent permitted by law and
subject to certain limitations, against all costs reasonably incurred by an Indemnitee in an action
or proceeding to which the Indemnitee was made a party by reason of the Indemnitee being an officer
or director of (i)&nbsp;the Registrant or (ii)&nbsp;an organization of which the Registrant is a shareholder
or creditor if the Indemnitee serves such organization at the request of the Registrant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains insurance policies relating to certain liabilities that its directors
and officers may incur in such capacity.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See Exhibit&nbsp;Index.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Undertakings.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the Registration Statement;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any
material change to such information in the Registration Statement;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><I>&nbsp;</I></TD>
    <TD width="1%"><I>&nbsp;</I></TD>
    <TD><I>Provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply
if the Registration Statement is on Form S-8, and the information required to be
included in a post-effective amendment by those paragraphs is contained in reports filed
with or furnished to the Commission by the registrant pursuant to section 13 or section
15(d) of the Exchange Act that are incorporated by reference in the Registration
Statement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new Registration Statement
relating to the securities offered therein, and the offering of those securities at
that time shall be deemed to be the initial bona fide offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining liability of the Registrant under the
Securities Act to any purchaser in the initial distribution of the securities:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant undertakes that in a primary offering of securities of the
undersigned Registrant pursuant to this Registration Statement, regardless of the
underwriting method used to sell the securities to the purchaser, if the securities are
offered or sold to such purchaser by means of any of the following communications, the
undersigned Registrant will be a seller to the purchaser and will be considered to offer
or sell such securities to such purchaser:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any preliminary prospectus or prospectus of the undersigned Registrant
relating to the offering required to be filed pursuant to Rule&nbsp;424;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any free writing prospectus relating to the offering prepared by or
on behalf of the undersigned Registrant or used or referred to by the
undersigned Registrant;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The portion of any other free writing prospectus relating to the
offering containing material information about the undersigned Registrant or
its securities provided by or on behalf of the undersigned Registrant; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any other communication that is an offer in the offering made by the
undersigned Registrant to the purchaser.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrant&#146;s annual report pursuant to Section
13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in the Registration Statement shall be deemed to be a new Registration Statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that, in the opinion of the
Commission, such indemnification is against public policy as expressed in the Securities Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Saskatoon, Province of Saskatchewan, Canada, on the 3rd day of May,
2007.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>POTASH CORPORATION OF SASKATCHEWAN INC.</B><BR><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
William J. Doyle</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">William J. Doyle&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints William J. Doyle, Wayne R.
Brownlee and Joseph A. Podwika, his or her true and lawful attorney-in-fact and agent, each acting
alone, with full power of substitution and resubstitution, for him or her and in his or her name,
place and stead, in any and all capacities, to sign any or all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact
and agents, each acting alone, full power and authority to do and perform each and every act and
thing appropriate or necessary to be done in connection therewith, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent, acting alone, or his or her substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, as amended, this Registration Statement
has been signed by the following persons in the capacities indicated, on the dates indicated below.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Dallas J. Howe</DIV>
Dallas J. Howe</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Chair of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Wayne R. Brownlee</DIV>
Wayne R. Brownlee</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Executive Vice President, Treasurer and
Chief Financial Officer (Principal
financial and accounting officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ William J. Doyle</DIV>
William J. Doyle</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
President and Chief Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Frederick J. Blesi</DIV>
Frederick J. Blesi</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ John W. Estey</DIV>
John W. Estey</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Wade Fetzer III</DIV>
Wade Fetzer III</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Alice D. Laberge</DIV>
Alice D. Laberge</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Keith G. Martell</DIV>
Keith G. Martell</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Jeffrey J. McCaig</DIV>
Jeffrey J. McCaig</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">Mary Mogford</DIV>
Mary Mogford</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ Paul J. Schoenhals</DIV>
Paul J. Schoenhals</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/ E. Robert Stromberg, Q.C.</DIV>
E. Robert Stromberg, Q.C.</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">Elena Viyella de Paliza</DIV>
Elena Viyella de Paliza</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">PCS Administration (USA), Inc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em"><!-- Blank Space -->
<TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">&nbsp;<BR>
<DIV style="font-size: 10pt; border-bottom: 1px solid #000000">/s/
Joseph A. Podwika</DIV>
Joseph A. Podwika</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="middle">
Authorized Representative in the
United States
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">May 3, 2007</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">4.1</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Potash Corporation of Saskatchewan Inc. 2007 Performance Option
Plan and Form of Grant Certificate.</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">5.1</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Opinion of Stikeman Elliott LLP, Canadian counsel to the
Registrant, as to the legality of the shares being registered.</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.1</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consent of Deloitte &#038; Touche LLP.</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.2</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consent of Stikeman Elliott LLP (included in Exhibit&nbsp;5.1).</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">24.1</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Power of Attorney, included on signature page.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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[{"type": "S-8", "sequence": "1", "filename": "o36088sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 46336}]
{"company-data": {"conformed-name": "POTASH CORP OF SASKATCHEWAN INC", "cik": "0000855931", "assigned-sic": "2870", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-142615", "film-number": "07819358"}, "business-address": {"street1": "122 1ST AVE S, STE 500", "street2": "SASKATOON", "city": "SASKATCHEWAN CANADA", "state": "A9", "zip": "S7K 7G3", "phone": "3069338500"}}
sv8
As
filed with the Securities and Exchange Commission on May 4, 2007
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
POTASH CORPORATION OF SASKATCHEWAN INC.
(Exact name of registrant as specified in its charter)
Canada
N/A
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
122 – 1
st
Avenue South
Saskatoon, Saskatchewan, Canada S7K 7G3
(Address, including zip code, of Principal Executive Offices)
Potash Corporation of Saskatchewan Inc.
2007 Performance Option Plan
(Full title of the plan)
William J. Doyle
Potash Corporation of Saskatchewan Inc.
122 – 1
st
Avenue South
Saskatoon, Saskatchewan, Canada S7K 7G3
(Names and address of agent for service)
(306) 933-8500
(Telephone number, including area code, of agent for service)
Copy to:
Robert D. Avery, Esq.
Jones Day
77 West Wacker
Chicago, Illinois 60601
(312) 782-3939
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Amount to be
Offering Price
Aggregate
Amount of
Title of Securities to be Registered
Registered (1)(2)
Per Unit (3)
Offering Price (3)
Registration Fee
Common Shares, no par value
1,000,000 shares
$188.20
$188,200,000
$5,778
(1)
Consists of Common Shares of Potash Corporation of Saskatchewan Inc. (the "Registrant") to
be issued pursuant to the Potash Corporation of Saskatchewan Inc. 2007 Performance Option Plan
(the "Plan").
(2)
This Registration Statement also covers, pursuant to Rule 416(a) under the Securities Act of
1933, as amended (the "Securities Act"), an indeterminate number of additional Common Shares
that may result from subdivisions, consolidations or reclassifications of the Common Shares,
the payment of share dividends by the Registrant, or other relevant changes in the capital of
the Registrant in accordance with the provisions of the Plan.
(3)
Estimated solely for purposes of calculation of the registration fee, based upon the exercise
price of options denominated in U.S. dollars pursuant to Rule 457(h) under the Securities Act
of 1933.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents previously filed by the Registrant with the Securities and Exchange
Commission (the "Commission"), are incorporated by reference in this Registration Statement:
(a)
The Registrant's Annual Report on Form 10-K for the year ended December 31,
2006, filed with the Commission on February 27, 2007.
(b)
The description of the Registrant's Common Shares contained in the
Registrant's Current Report on Form 8-K filed with the Commission on December 21,
2001.
In addition, all of the Registrant's reports filed with the Commission pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
after the date of this Registration Statement and prior to filing a post-effective amendment which
indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such reports.
Any statement contained herein or in a document incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained in any subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.
Item 4.
Description of Securities.
Not applicable.
Item 5.
Interests of Named Experts and Counsel.
Not applicable.
Item 6.
Indemnification of Directors and Officers.
Section 124 of the Canada Business Corporations Act authorizes corporations to indemnify past
and present directors, officers and certain other individuals for liabilities incurred in
connection with their services as such (including costs, expenses and settlement payments) if such
individual acted honestly and in good faith with a view to the best interests of the corporation
and, in the case of a criminal or administrative proceeding, if such individual had reasonable
grounds for believing his or her conduct was lawful. In the case of a suit by or on behalf of the
corporation, a court must approve the indemnification.
Section 11(4) of the Registrant's bylaws provides that the Registrant shall indemnify
directors and officers to the extent required or permitted by law.
The Registrant has entered into agreements with its directors and officers (each an
"Indemnitee" under such agreements) to indemnify the Indemnitee, to the extent permitted by law and
subject to certain limitations, against all costs reasonably incurred by an Indemnitee in an action
or proceeding to which the Indemnitee was made a party by reason of the Indemnitee being an officer
or director of (i) the Registrant or (ii) an organization of which the Registrant is a shareholder
or creditor if the Indemnitee serves such organization at the request of the Registrant.
The Registrant maintains insurance policies relating to certain liabilities that its directors
and officers may incur in such capacity.
Item 7.
Exemption from Registration Claimed.
Not applicable.
Item 8.
Exhibits.
See Exhibit Index.
Item 9.
Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the Registration Statement;
and
(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any
material change to such information in the Registration Statement;
Provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply
if the Registration Statement is on Form S-8, and the information required to be
included in a post-effective amendment by those paragraphs is contained in reports filed
with or furnished to the Commission by the registrant pursuant to section 13 or section
15(d) of the Exchange Act that are incorporated by reference in the Registration
Statement.
(2)
That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new Registration Statement
relating to the securities offered therein, and the offering of those securities at
that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(6)
That, for the purpose of determining liability of the Registrant under the
Securities Act to any purchaser in the initial distribution of the securities:
The undersigned Registrant undertakes that in a primary offering of securities of the
undersigned Registrant pursuant to this Registration Statement, regardless of the
underwriting method used to sell the securities to the purchaser, if the securities are
offered or sold to such purchaser by means of any of the following communications, the
undersigned Registrant will be a seller to the purchaser and will be considered to offer
or sell such securities to such purchaser:
(i)
Any preliminary prospectus or prospectus of the undersigned Registrant
relating to the offering required to be filed pursuant to Rule 424;
(ii)
any free writing prospectus relating to the offering prepared by or
on behalf of the undersigned Registrant or used or referred to by the
undersigned Registrant;
(iii)
The portion of any other free writing prospectus relating to the
offering containing material information about the undersigned Registrant or
its securities provided by or on behalf of the undersigned Registrant; and
(iv)
Any other communication that is an offer in the offering made by the
undersigned Registrant to the purchaser.
(b)
The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrant's annual report pursuant to Section
13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in the Registration Statement shall be deemed to be a new Registration Statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
(h)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that, in the opinion of the
Commission, such indemnification is against public policy as expressed in the Securities Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Saskatoon, Province of Saskatchewan, Canada, on the 3rd day of May,
2007.
POTASH CORPORATION OF SASKATCHEWAN INC.
By:
/s/
William J. Doyle
William J. Doyle
President and Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints William J. Doyle, Wayne R.
Brownlee and Joseph A. Podwika, his or her true and lawful attorney-in-fact and agent, each acting
alone, with full power of substitution and resubstitution, for him or her and in his or her name,
place and stead, in any and all capacities, to sign any or all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact
and agents, each acting alone, full power and authority to do and perform each and every act and
thing appropriate or necessary to be done in connection therewith, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent, acting alone, or his or her substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, as amended, this Registration Statement
has been signed by the following persons in the capacities indicated, on the dates indicated below.
Signature
Title
Date
/s/ Dallas J. Howe
Dallas J. Howe
Chair of the Board
May 3, 2007
/s/ Wayne R. Brownlee
Wayne R. Brownlee
Executive Vice President, Treasurer and
Chief Financial Officer (Principal
financial and accounting officer)
May 3, 2007
/s/ William J. Doyle
William J. Doyle
President and Chief Executive Officer
May 3, 2007
/s/ Frederick J. Blesi
Frederick J. Blesi
Director
May 3, 2007
/s/ John W. Estey
John W. Estey
Director
May 3, 2007
/s/ Wade Fetzer III
Wade Fetzer III
Director
May 3, 2007
/s/ Alice D. Laberge
Alice D. Laberge
Director
May 3, 2007
Signature
Title
Date
/s/ Keith G. Martell
Keith G. Martell
Director
May 3, 2007
/s/ Jeffrey J. McCaig
Jeffrey J. McCaig
Director
May 3, 2007
Mary Mogford
Mary Mogford
Director
May 3, 2007
/s/ Paul J. Schoenhals
Paul J. Schoenhals
Director
May 3, 2007
/s/ E. Robert Stromberg, Q.C.
E. Robert Stromberg, Q.C.
Director
May 3, 2007
Elena Viyella de Paliza
Elena Viyella de Paliza
Director
May 3, 2007
PCS Administration (USA), Inc.
/s/
Joseph A. Podwika
Joseph A. Podwika
Authorized Representative in the
United States
May 3, 2007
EXHIBIT INDEX
Exhibit
Number
Description
4.1
Potash Corporation of Saskatchewan Inc. 2007 Performance Option
Plan and Form of Grant Certificate.
5.1
Opinion of Stikeman Elliott LLP, Canadian counsel to the
Registrant, as to the legality of the shares being registered.
23.1
Consent of Deloitte & Touche LLP.
23.2
Consent of Stikeman Elliott LLP (included in Exhibit 5.1).
24.1
Power of Attorney, included on signature page.