Mosaic to idle Colonsay mine
TORONTO (miningweekly.com) – NYSE-listed The Mosaic Company will idle its 2.6-million-tonne Colonsay potash mine, in Saskatchewan, for the remainder of 2016 and halt current turnaround activities, the company announced Wednesday.
"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,” stated president and CEO Joc O’Rourke.
The Plymouth, Minnesota-based company had given about 330 employees temporary layoff notices, citing lower demand and challenging potash market conditions as being behind the strategic move.
Mosaic advised that it expected to meet its short-term potash supply needs from its lower-cost Esterhazy and Belle Plaine mines, together with current inventory.
“We continue to execute the difficult but necessary actions to ensure Mosaic will be as competitive as possible across the business cycle,” O’Rourke said.
Mosaic had cut 8%, or 46 workers, of its Colonsay workforce in October last year, as it struggled with weak demand.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation