Nutrien announced that it expects to increase potash production by approximately half a million tonnes in the second half of 2021 compared to earlier expectations, in response to tightening global potash market conditions. Nutrien has a flexible network of six world-class potash mines with competitively positioned, available capacity that it can utilize to help supply global demand.
“We are responding to strong market fundamentals to ensure our customers have the crop inputs they need to feed a growing population. Our network of flexible production and extensive logistics is designed to provide reliable supply and we have a unique ability to be agile and respond to changing market conditions. Our potash asset portfolio is optimally positioned to meet customer needs and drive shareholder value,”
commented Ken Seitz, Nutrien’s Executive Vice President and CEO of Potash.
Domestic and offshore potash sales volumes are currently fully committed through September, based on our original production profile for 2021. Nutrien will be actively hiring additional employees and adapting its resources to help increase production across most of its potash mines, ramping up its Vanscoy facility in particular, and will ensure the highest safety standards are maintained in the process.
Nutrien expects these actions to result in upward revisions to potash-related guidance for the second half of 2021 from both a volume and EBITDA perspective, which will be addressed in second-quarter 2021 results. Nutrien continues to actively monitor the market and evaluate other potential options to further increase production if demand warrants it and may provide additional information in this regard at a later date.