Nutrien Permantenly Closes New Brunswick Potash Facility

Nutrien Permantenly Closes New Brunswick Potash Facility

SUSSEX, N.B.—Nutrien Inc. said it permanently closed its New Brunswick potash facility after putting the operation on care and maintenance in early 2016.

The company said it will take a $1.8-billion (U.S.) impairment charge in the third quarter due to the closure.

It said the decision to close the facility reflects the company’s ability to increase potash production at a significantly lower cost than resuming operations in New Brunswick.

Nutrien, then known as the Potash Corp. of Saskatchewan before a merger, shut down its Piccadilly mine near Sussex, N.B., at a loss of about 430 jobs close to three years ago to focus on its lower-cost operations in Saskatchewan.

The news was a shock at the time for the town of 4,300 after Potash Corp. had spent around $2 billion (CAD) and six years building the facility.

Source: The Star

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