This decision could have implications for the other potash mines in Saskatchewan. (Photo: The Canadian Press)
Nutrien announced on Tuesday that it has cut production at its Cory potash mine due to the strike by workers at the Port of Vancouver, and warned that the work stoppage could affect Saskatchewan’s other potash mines if work continues.
The company states that the strike resulted in the loss of export capacity through Canpotex’s Neptune terminal.
Ken Seitz, CEO of Nutrien, urged both sides of the labor dispute to find a quick solution.
About 7,400 members of the International Longshore and Warehouse Union Canada in Vancouver have been on strike since April 1um July.
Nutrien expects its full-year potash-adjusted earnings before interest, taxes, depreciation and amortization to come in below the low end of its guidance range due to factors affecting overseas sales through Canpotex — including the strike and a Portland terminal outage will fall and lower than expected prices.
The company said it would provide an updated full-year guidance when it released its second-quarter results on Aug. 2.
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