Mosaic pauses production at Colonsay, Sask. potash mine
Mosaic pauses production at Colonsay, Sask. potash mine
(File photo)
Mosaic is pressing pause on potash production at its Colonsay mine.
The firm says it has "temporarily curtailed" production at the mine due to slower-than-expected demand for potash in the second half of 2022.
"Our decision to temporarily curtail Colonsay reflects near-term dynamics and not long-term agricultural market fundamentals. Crop prices remain strong and continue to support healthy grower economics," Mosaic president and CEO Joc O'Rourke said in a news release.
"After a year of reduced applications, we believe farmers are incentivized to maximize yields, which should drive significant recovery in fertilizer demand in 2023," O'Rourke said.
The mine had been operating at an annual run rate of 1.3 million tonnes, according to the company.
Underground development work is expected to continue at the mine in anticipation of a restart in early 2023.
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Buckingham Palace on Saturday revealed details of King Charles III's coronation, set to be less extravagant than his mother's ceremony 70 years ago, in a reflection of the cost-of-living crisis many Britons are enduring.
The federal government says it's come to a $2.8-billion agreement to settle a class-action lawsuit brought by members of a British Columbia Indigenous band who attended residential schools as day scholars.
(File photo)
