Mosaic to slow Canadian potash production
Mosaic Co will run its Canadian potash mines at less than 75 percent of capacity collectively for maintenance in the current third quarter, as prices for the crop nutrient slip.
The U.S. fertilizer company will curtail production at its Colonsay, Saskatchewan, mine, Chief Financial Officer Larry Stranghoener said on Tuesday, adding that Mosaic may curtail output at other mines, depending on demand.
The company also said it expects Canpotex Ltd, the offshore selling agency for Mosaic, Potash Corp of Saskatchewan and Agrium Inc, to close a potash supply contract with Chinese buyers for the second half near the end of the third quarter.
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