Mosaic Co. is closing its potash mine neara Colonsay, Sask., until the end of the year because potash prices are low.
Potash Corporation of Saskatchewan closed a mine in New Brunswick earlier this year for the same reason.
About 330 employees at the Colonsay-area mine received temporary layoff notices from Mosaic, which is based in Plymouth, Minnesota.
Mosaic, Agrium and Potash Corp of Saskatchewan are partners in a government-approved cartel to price potash for export.
The three are awaiting a move by China which has been setting global prices in recent years.
Prices tumbled two years ago when another cartel between Russia and Belarus broke down, sparking a price war. A new shareholder in Russia’s Uralkali said this week it wants that cartel to be re-established.
Spot potash prices in the U.S. Corn Belt tumbled to a nine-year low this year.