Tuesday, August 21, 2018

Nutrien manages to push potash prices up

Reuters News Agency reports that Nutrien has been successful in pushing potash prices higher by scaling back production at its mines in Saskatchewan.

But it says Nutrien runs a risk of being too successful, meaning that a global mining giant, BHP, could speed up development of its new mine in Saskatchewan.

BHP has been slowed down to almost a holding pattern on its billion-dollar Saskatchewan mine because world prices were depressed.

Nutrien is the name now for what was Potash Corporation of Saskatchewan and Agrium of Calgary. It was a combination of the world’s largest potash producer and the world’s largest fertilizer retailer.