This week Nutrien Ltd. announced it will shut down its Allan, Lanigan and Vanscoy potash mines for up to eight weeks. The shutdowns will occur in the fourth quarter of this year.
According to the company, the production shutdown is in response to a short-term slowdown in global potash markets. If all three facilities are shut down for the full eight weeks, it will reduce potash production by 700,000 tons and reduce EBITDA by $100 to $150 million.
This is the second company this week to announce it will slow or stall fertilizer production. Earlier this week Mosaic announced it will reduce phosphorus supplies by 500,000 in a single-plant slowdown. Read more here.