Potash Corp suspends Picadilly mine in N.B., cuts 430 jobs (CBC News New Brunswick – January 19, 2016)

http://www.cbc.ca/news/canada/new-brunswick/

Saskatchewan company says mining near community of Sussex is suspended indefinitely

Potash Corporation of Saskatchewan is indefinitely suspending its Picadilly mine operation near Sussex, N.B. The move is expected to result in the loss of 420 to 430 jobs.

Mark Fracchia, the president of PCS Potash and a former general manager for the New Brunswick mine, told a news conference that the decision to suspend operations at the mine was “extremely difficult.”

“This is just a very sad day for all of us. Most of all to the people who have given us so many years of loyal service, for the community of Sussex, for the province generally and certainly for all of us at PotashCorp,” Fracchia told reporters.

“We had high hopes for Picadilly and my heart goes out to all the people who have worked so very hard for so long in building and operating the mine.”

The executive said the New Brunswick mine was the most expensive of its operations because of the geology in the province.

He said the decision had more to do with global market forces and he said there was little the provincial government could have done to help the corporation.

Sussex Mayor Marc Thorne said he was in “disbelief” when he heard about the corporation’s decision to suspend mine operations.

“It is just heartbreaking to hear this news today,” Thorne said. The mayor said he’s unsure how the community will fill the economic hole.

For the rest of this article, click here: http://www.cbc.ca/news/canada/new-brunswick/potash-piccadilly-mine-suspended-1.3409831

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