Moose Jaw's new $60 million sports and recreation complex has been given the name of a potash mining company.

The naming rights, which are valid for ten years, were sold to The Mosaic Company for $150,000 per year.

It allows the firm to dub the complex Mosaic Place.

The name, already embedded in the ice surface at the complex, was announced at a ceremony Thursday.

"Projects like this help Saskatchewan flourish, and make us proud to be a part of the community," Brad DeLorey, the company's director of public affairs said.

The Mosaic name is also attached to the city of Regina's football stadium.

The Moose Jaw complex, which is set for an official grand opening Aug. 19, has room for concerts, trade shows, curling and the local hockey team, the Warriors.

The team will play its first game on the new ice Sept. 3.

Seating capacity for sports events is 4,367.

There was some controversy about the building when concerns were raised about how much it would cost.

Moose Jaw's mayor, Glenn Hagel, said the Mosaic money will help with some of the facility's bills.

"Reducing the amount of money in subsidy," Hagel said Thursday. "And it'll be valuable for a decade."