August 17, 2012
PotashCorp to shutdown Lanigan mine for about one month
As the fertiliser industry grapples with large supplies, Potash Corporation of Saskatchewan said on Thursday (Aug 16) it will shut down its Lanigan, Saskatchewan mine for nearly a month.
PotashCorp said in a statement on its website that it will shut down the mine between September 15 and October 13, consistent with its practice of matching supply with market demand.
North American potash inventories were 30% above the five-year average in July, although they were lower over month, according to industry data released earlier this week by PotashCorp.
PotashCorp, Mosaic Co and Agrium Inc. sell potash offshore through the marketing agency Canpotex, and the producers are awaiting new supply contracts with key buyers in China and India.
Lanigan is PotashCorp's biggest mine, with operational capacity of 3.3 million tonnes per year.