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People & Business :: Earnings/Finance

Mosaic delays Saskatchewan potash expansion on poor markets

12:43 PM MDT | May 21, 2013

Mosaic has decided to delay, by one to two years, the expansion of its Saskatchewan potash mines, CFO Lawrence Stranghoener said recently. 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. The long-term supply picture in the potash industry may by that time also...

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