Nutrien president and CEO says the six potash mines in Saskatchewan are not closing anytime soon.
“With what we can see today, absolutely not,” Chuck Magro told reporters in Saskatoon on Thursday afternoon.
“Our plans are going to be very similar to last year. In fact, we’re going to produce more.”
Earlier this week, Nutrien — formed out of the merger of Potash Corp. and Agrium Inc., — said it would assess closing costly mines by the end of 2018.
The fertilizer giant is in a major efficiency push to make good on a promised $500 million in annual savings from the merger.
“Part of the $500 million operating synergies has no rationalization when it comes to shutting down a potash mine. What it has to do is optimize the six in a family, in a network,” Margo said.
In September, Potash Corp. temporarily shut down its mine in Lanigan, Sask. and Allan, Sask.
CEO plans for job growth in Sask.
Margo said with current demand, he projects more jobs in Saskatoon.
“We see a net increase in the jobs, in specifically Saskatoon. We’ll work those plans out in the next couple of months,” he said.
In January, former premier Brad Wall said it was important that the new CEO of Nutrien live and work in Saskatchewan.
“My primary home is in Calgary. We plan to keep my home in Calgary, but we also plan to buy a home here because I’m going to spend a tremendous amount of my time here [in Saskatchewan],” Margo said.
Nutrien released its fourth quarter earnings on Monday.
— with files from The Canadian Press
