Canadian potash producer Nutrien is not looking to sell assets to raise capital, CEO Ken Seitz told Reuters, even as falling fertilizer prices have caused it to scrap projects and trim costs.
Seitz said the companies are not considering steps to reduce their reliance on Vancouver and Portland, noting that they can already move some potash through Saint John, New Brunswick, Churchill, Manitoba and Morehead City, North Carolina.
"We're in a bit of a unique situation here with Portland and Neptune being down at the same time. I don't think that's ever happened before," he said. Neptune is the terminal that Canpotex ships from in Vancouver. Nutrien officials told analysts on a conference call that it may take weeks to clear the Vancouver potash backlog, and it sees its Portland terminal back in service by the end of 2023.Our Standards:Covers energy, agriculture and politics in Western Canada with the energy transition a key area of focus.
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