The Mosaic Company says it may need to restart its idled potash mine at Colonsay next year, as international buyers work through inventories,
Mosaic halted production in July at the mine for the rest of 2016 due to low global potash demand and weak prices.
Analysts have speculated that Mosaic may not reopen the mine in 2017, due to excessive global capacity and a faltering farm economy.
However, Chief Executive Joc O Rourke says fertilizer demand looks strong for spring crop planting season meaning it will probably be necessary for us to be starting up Colonsay in the early new year.
The Colonsay mine’s capacity is 2.6 million tonnes annually.