Nutrien announced plans to shut down three potash mines in Saskatchewan the day after Mosaic announced it will close its potash mine in Louisiana on Oct. 1.
Nutrien’s move will reduce production by 700, 000 tonnes and Mosaic’s will reduce it by 500,000 tonnes.
They are trying to reduce inventories so prices will rise. Together they account for almost all potash production in North America.
Nutrien said it will shutter at Allan, Lanigan and Vanscoy, Sask., for eight weeks.