The company is also said to be mulling a number of investment projects involving a Chinese chemical company.
Potash Corporation of Saskatchewan Mining News
Mosaic was charged with fines of more than more than $85,000 after a worker's leg was crushed in a conveyer in February 2014.
The firm anticipates “challenging market fundamentals” in the phosphate-fertilizer market, adding that it is currently assessing the value of some assets, which may lead to writedowns.
Decision to resume operations at the mine was based on Mosaic's expectations that 2017 will be a stronger year for the potash industry.
The 114 miners who were trapped underground following a fire are now home and operations will resume today.
The company also said it expects layoffs resulting from temporary production halts at its Lanigan and Allan mines in early 2017.
Sirius Minerals’ York mine is expected to be one of the world’s largest in terms of the amount of resources extracted, generating an initial 10 million tonnes of polyhalite per year.
The deal, the biggest Canadian merger since CNOOC Ltd. bought Nexen Energy ULC in 2013, would create the world’s largest crop-nutrient supplier, worth about $36 billion.
The combined firm will be the world's largest crop nutrient producer and third largest natural resource company in Canada.
A tie-up could produce a fertilizer giant worth more than $30 billion.
Analysts see the long-awaited deal to sell potash to Chinese buyers as good news for the beleaguered sector, even though the agreed price is dramatically lower than last year’s.
The company has set Jan. 3 as the restart date for the mine, but that may change based on market conditions.
BHP has been developing its own Canadian potash mine — the Jansen project — in Potash Corp's backyard, and has already invested about $3.8 billion on it.
Belarus has said it might cooperate with Uralkali, in the first sign the two sides might work together since the Russian potash producer broke off their business alliance in 2013.
Sirius' mine, located beneath a U.K. national park, is set to generate an initial 10 million tonnes per year of polyhalite – a form of potash.
The indefinite suspension of the Picadilly mine, in Canada's New Brunswick, is expected to cut the company's capital costs by $50 million in 2016 and $135 million over the next two years.
The offtake deal with Huaken International is for seven years from the moment the York Potash mine is up and running.
The fertilizer giant also announced temporary inventory shutdowns as it deals with a weakening potash market.
The $3.15 billion project will tap into the world’s largest and highest grade deposit of polyhalite, used as a fertilizer, inside the North York Moors National Park.
The global potash market is about to get competitive, and Potash Corp.'s shareholders should pay attention.
While oil production is expected to drop by 4% this year, potash output will jump 8%, BMO forecasts.
While it did not release price terms, it is believed the group will be selling its crop nutrient for US$315 per a tonne,
The Saskatoon-based miner also hiked its quarterly dividend 9% to 38 cents per share.
PotashCorp. still plans to close the old mine.
The company is approaching the end of a decade-long, US$8.3-billion investment program to boost its potash production capacity.