Thursday, January 28, 2016

Potash Corp. takes a hit

Profits plunged by 50 per cent for Potash Corp. of Saskatchewan, prompting it to cut dividends his week.

The quarterly report came days after the company announced it's closing a mine in New Brunswick because it's among its more expensive ones. The closure throws 430 people out of work.

The company says prices for all of its products - potash, nitrogen and phosphorous - have declined.