Mosaic Co. to idle Colonsay potash mine
Published by Angharad Lock,
Digital Assistant Editor
World Fertilizer,
The Colonsay mine's proven annual production capacity is 2.6 million t.
The Mosaic Co. has announced that it will idle its Colonsay, Saskatchewan potash mine for the rest of 2016. The move is to allow the company to adapt to challenging potash market conditions. Approximately 330 employees have received temporary layoff notices as a result of the idling.
The Colonsay mine's proven annual production capacity is 2.6 million t.
"We continue to execute the difficult but necessary actions to ensure Mosaic will be as competitive as possible across the business cycle," said President and CEO, Joc O'Rourke. "Lower global potash demand and market prices require that we curtail production. Idling Colonsay will enable us to meet our customers' needs while reducing our production costs."
Read the article online at: https://www.worldfertilizer.com/special-reports/15072016/mosaic-co-to-idle-colonsay-potash-mine/
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