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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Mosaic delays Saskatchewan potash expansion on poor markets and high project costs
10:45 AM MDT | May 14, 2013 | Natasha Alperowicz
Mosaic has decided to delay by one or two years expansion of its Saskatchewan potash mines, the company said on Monday. Lawrence Stranghoener, CFO, said on a conference call with analysts that the company is deferring the final 2-million m.t./year potash expansion because of unfavorable market conditions and high labor costs. The project was expected to cost “upward of $2 billion.” “By waiting a year or two, we may see improved labor conditions in Saskatchewan that might help bring down the cost of this project,” Stranghoener said...
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