The majority of additional volume is expected to be produced in the second half of the year.
Nutrien’s 2022 potash production is expected to increase by nearly 20% compared to 2020 and account for more than 70% of global production added over this period. The company expects a small increase in 2022 CAPEX and will be hiring additional employees across its network of potash mines in Saskatchewan, Canada.
“Our thoughts and sympathies are with those impacted by the crisis in Ukraine and we hope for an immediate de-escalation of this conflict. The impacts of this conflict extend beyond Eastern Europe as a disruption in supply of key agriculture, fertilizer and energy commodities could have implications for global food security,” said Ken Seitz, Nutrien’s Interim President and CEO.
“Nutrien is responding to this period of unprecedented market uncertainty by safely expanding potash production to help provide our customers with the crop inputs they need. We continue to closely monitor market conditions and will evolve our long-term plans to ensure we utilize our assets in a safe and sustainable manner that benefits all our stakeholders,” added Seitz.
Read the article online at: https://www.worldfertilizer.com/potash/17032022/nutrien-to-increase-potash-production-in-response-to-supply-uncertainty/