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Nov 03, 2024
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The effects of the strike at the Port of Vancouver continue to reach Saskatchewan.
Saskatoon-based Nutrien Ltd. announced Tuesday it was curtailing production at its Cory potash mine southwest of Saskatoon, and warned the strike may have an impact on the company’s other Saskatchewan mines if it’s not resolved quickly.
In a media release, Nutrien said the move was made “due to the loss of export capacity through Canpotex’s Neptune terminal as a result of the International Longshore and Warehouse Union (ILWU) Canada strike at the Port of Vancouver.”
The release didn’t say by how much it would be reducing production at the mine.
“The disruption at the Port of Vancouver has resulted in the curtailment of production at our Cory potash mine and if prolonged could also impact production at our other potash mines in Saskatchewan,” Nutrien president and CEO Ken Seitz said in the release.
“We urge the parties in this dispute to come to a swift resolution to prevent further damage to the Canadian economy.”
Asked for further comment, the company replied in an email that it had nothing to add to its earlier release.
“Nutrien is in a quiet period ahead of earnings, so we are not accepting interview requests or able to comment on production and/or financial data at this time,” the email said. “In this case, curtailment means slowing down potash production and focusing our efforts on maintenance and capital projects at our Cory site.
“We are not planning on implementing layoffs and we will continue to monitor the situation. Canpotex markets Nutrien Potash internationally and any logistical inquiries can be directed to them.”
Earlier Tuesday, a Canpotex spokesperson said the company wouldn’t be doing interviews and suggested directing any questions to Nutrien.
In the media release, Nutrien said it expects full-year potash adjusted earnings before interest, taxes, depreciation and amortization will fall below the bottom end of its guidance range due to factors impacting offshore sales through Canpotex, including the strike in Vancouver, a Portland terminal outage and lower-than-anticipated potash prices.
The company said it would provide updated guidance for its full year when it reports its second-quarter results on Aug. 2.
— With files from The Canadian Press