Discussions are underway between two key players in the fertilizer industry.

Potash Corp of Saskatchewan and Agrium out of Calgary are in discussions regarding a potential merger.

Trading of public shares for the two prairie based companies halted trading briefly Tuesday morning on the Toronto Stock Exchange,  before ending the day with a significant increase in share value for both companies after trading resumed.

In separate news releases both sides confirmed potential merger discussions are taking place but that no agreement has been reached and there’s no assurance that a transaction will occur.

In recent years an oversupply of potash on the world market has led to layoffs and mine closures.

Premier Brad Wall says he has talked with both companies and has been assured the provinces interests in terms of jobs, taxes and economic impact are part of the negotiations.