Mosaic (NYSE: MOS) is temporarily shutting one of its three Saskatchewan potash operations, amid declining global demand and potash prices.
The major fertilizer producer will close the Colonsay potash mine for the rest of 2016 in response to the “challenging” market conditions.
As a result, it will lay off 330 employees until January 2017. This follows the company’s permanent dismissal of 46 Colonsay employees last October.
“Mosaic intends to keep a small workforce of 31 in scope employees on site to perform safety checks,” Sarah Fedorchuk, the company’s senior director of public affairs, said in an emailed response. “We have also retained our 112 out of scope [non-unionized] employees for this period.”
Read the entire story at www.NorthernMiner.com/news/mosaic-idles-colonsay