Lower potash prices would also hurt the Canadian company’s bottom line Reuters
Canadian Nutrien, one of the largest fertilizer companies in the world, announced this Tuesday (11/7) that reduced potash production at the Cory mine due to the loss of export capacity at the Port of Vancouver, following the strike by the International Longshore and Warehouse Union (ILWU), which represents dockworkers.
The company expects potash adjusted EBITDA in 2023 to be below the lower end of its previous estimates.
In addition to the ILWU strike, which affected work at Canpotex’s Neptune terminal, the interruption of the Portland terminal and global potash prices lower than expected.
“The disruptions at the Port of Vancouver have resulted in reduced production at our Cory potash mine and, if prolonged, could also impact production at our other potash mines in Saskatchewan,” he said. he declares. Ken Seitz, President and CEO of Nutrien, as a note.
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