WINNIPEG, Manitoba (Reuters) – Canada’s Nutrien Ltd, the world’s biggest producer of potash fertilizer, said on Tuesday that it was evaluating whether to expand its annual production capacity by 5 million tonnes after 2023, around the time that metals miner BHP Billiton is considering a move into potash.
In a presentation to investors in Toronto, Chief Executive Chuck Magro said the additional capacity would consist of expansions to existing Canadian mines during the next decade.
Nutrien currently has some 5 million tonnes of idled potash capacity due to soft prices in recent years.
Its existing mines could put that idled capacity back into service by 2023, taking its operational capability to 18 million tonnes, Nutrien said in a presentation posted online. It could then begin adding a further 5 million tonnes after that, according to the presentation.
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