Resumption will depend on when the company’s current inventory drops enough to restart operations for the long term
Mosaic Co. says the full resumption of its potash mine in Saskatchewan, where production was curtailed in December, will depend on when the company’s current inventory drops enough to restart operations for the long term.
The Tampa, Fla.-based company said in a Dec. 6, 2022, statement that it had “temporarily curtailed” its Colonsay potash mine in Saskatchewan as its inventory levels were sufficient to meet near-term demand. It added that it expected to restart its mill by early 2023.
“I can’t really speculate on when we would start up. It depends on when our current inventories go down,” company spokesperson Sarah Fedorchuk said. “However, farm economics remain strong and we anticipate this happening as we move through the first quarter.” The company’s first quarter ends on Mar. 31.
Last month, Mosaic’s chief executive Joc O’Rourke said in a press release that the company’s decision to curtail Colonsay reflected “near-term dynamics and not long-term agricultural market fundamentals.”
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