Nutrien announces temporary shutdowns at potash mines during Q4
Nutrien announced that it expects to proactively take up to 8-week inventory shutdowns at its Allan, Lanigan and Vanscoy potash mines during the fourth quarter. The production downtime is in response to a short-term slowdown in global potash markets. If all three potash facilities were to remain idled for the full 8 weeks, potash production could be reduced by approximately 700,000 tonnes and potash annual EBITDA could be reduced by $100M-$150M. "Despite the current short-term market conditions, we remain positive on potash demand for 2020, as well as the medium to long-term potash fundamentals. We remain focused on a gradual ramp up of production to meet demand and to ensure we operate the safest, most reliable and efficient Potash business in the world."