Nutrien to Cut Potash Production in Saskatchewan as Vancouver Port Strike Hits Exports
By Adriano Marchese
Nutrien has temporarily curtailed its potash production in Saskatchewan as striking workers at the Port of Vancouver has limited export capacity.
The Canadian fertilizer company said Tuesday that it has limited production at the Cory potash mine in Saskatoon due to lower export capacity though Canpotex's Neptune terminal.
Thousands of unionized workers of the International Longshore and Warehouse Union are currently on strike at the Port of Vancouver.
The strike, which began last week, is in part over concerns that automation could affect jobs at critical import and export hubs in Canada.
Nutrien warned that it now expects adjusted earnings before interest, taxes, depreciation and amortization to fall below the bottom end of its previous guidance for 2023.
The strike was among the reasons for the lowered expectation, but it also cited the Portland terminal outage and lower global potash prices than previously anticipated.
So far, the strikes have affected only the Saskatoon mine, but Nutrien said that a prolonged strike could also affect other potash mines in the province.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 11, 2023 07:27 ET (11:27 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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