K+S follows rivals in cutting output
Germany’s K+S Group has followed its potash rivals by announcing a reduction in fertiliser production for potassium chloride, citing a weak market environment.
The company, which owns potash mines in Canada, has announced an up to 300 t cut in production by the end of 2019.
Chinese import bans on standard potassium chloride product intensified the weak market environment, K+S said in a statement this week.
“Adjusting production is a difficult decision, but the right one,” said K+S Europe CEO Alexa Hergenröther.
The impact of the production adjustment on earnings before interest, tax, depreciation and amortisation is expected to be up to €80-million.
“Irrespective of this, we are continuing to work hard on implementing the ongoing measures to increase product quality at the Bethune plant in Canada and to strengthen operational excellence at the German sites,” Hergenröther stated.
The Bethune solution potash mine is near Moose Jaw, Saskatchewan.
K+S is the latest potash producer to announce a reduction in its production. In mid-September, major Nutrien announced an up to eight-week shutdown at its Allan, Lanigan and Vanscoy potash mines, in Saskatchewan, in response to a slowdown in global potash markets. If all three potash facilities were to be idled for the full eight weeks, production could be reduced by about 700 000 t.
Russian producer Uralkali also plans to reduce its potash production by between 350 000 t and 500 000 t.
The Mosaic Company last month announced that the Colonsay mine, in Saskatchewan, would be shut down until prices improved and the company has also idled its Lousiana phosphates operations to help balance the global market.
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