Alberta floods block potash shipments
Last week’s floods have temporarily cut the supply of potash from Saskatchewan to the west coast, Reuters reports.
Saskatchewan potash mines were themselves not affected by flooding, but will have to wait a few days to resume transporting the fertiliser through inundated Alberta.
Agrium (NYSE:AGU), Mosaic (NYSE:MOS) and PotashCorp (NYSE:POT), all major Canadian potash producers, jointly own Canpotex — the company in charge of marketing and exporting the miners’ commodities outside of Canada.
The flood will cause a delay similar to that induced by a winter storm, a spokesman for Agrium told Reuters.
The hold up comes days after Canpotex announced it had completed its railcar maintenance facility in Saskatchewan — a $60 million transportation system designed to facilitate transportation of potash to seaports.
Creative Commons image by U.S. Geological Survey