https://www.miningweekly.com
Container|Ports
Container|Ports
container|ports

Nutrien cuts guidance, curtails potash mine as port strike drags on

Nutrien CEO Ken Seitz

Nutrien CEO Ken Seitz

11th July 2023

By: Bloomberg

  

Font size: - +

Nutrien is curtailing production at a Saskatchewan potash mine because of a dockworkers’ strike in Vancouver, the main hub through which it exports the crop input.

The Canadian miner said the strike, lower global potash prices and other factors mean it will fall short of its previous guidance for adjusted earnings before interest, taxes, depreciation and amortization this year.

The labor dispute, which began July 1, has forced Nutrien to cut back production at its Cory mine “and if prolonged could also impact production at our other potash mines in Saskatchewan,” CEO Ken Seitz said in a statement. “We urge the parties in this dispute to come to a swift resolution to prevent further damage to the Canadian economy.”

Government mediators have been trying to find a solution to the dispute.

The strike by members of the International Longshore & Warehouse Union Canada began on July 1 and has disrupted shipments of goods and commodities through Vancouver — Canada’s busiest port — and Prince Rupert. The labor action has “potentially disrupted” C$7.5-billion ($5.7-billion) in cargo and prompted at least two vessels to divert to ports on the US west coast, the British Columbia Maritime Employers Association said Monday.

Unionized US dockworkers said Monday they won’t unload cargo that’s bound for Canada as a show of support for the striking port workers. ILWU members “will not be unloading Canadian-bound cargo in solidarity with our brothers and sisters in ILWU Canada,” Willie Adams, ILWU’s international president, said in a statement emailed by the union.

A move by US dockworkers to refuse container ships that were rerouted from Vancouver would damage “the reliability and competitiveness of West Coast ports up and down the coast,” the BCMEA said in a release.

The union and the employers met with federal mediators over the weekend, according to a statement. The BCMEA put forward a revised proposal with increased benefits for casual tradespeople, increased apprenticeships and a tool allowance, the employers’ group said on Saturday.

Edited by Bloomberg

Comments

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 
Showroom image
Alcohol Breathalysers

Alcohol Breathalysers (Pty) Ltd. was established in 2004 with the aim to make available reliable, affordable and accurate digital breathalyzers to...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (07/07/2023)
7th July 2023 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.069 0.103s - 107pq - 2rq
Subscribe Now