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Agrium completed potash expansion proving run
Dec. 22, 2015
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ArgentinaAgrium Inc. recently announced the successful completion of its proving run for the one million tonne production expansion at its Vanscoy potash facility.
The Canpotex proving run has established a new annual nameplate production capacity of 3.024 million tonnes for the Vanscoy facility. As a result, we expect Agrium's new Canpotex allotment will be approximately 10.5 percent of Canpotex's total annual international shipments, effective from the beginning of 2016.
The Canpotex proving run has established a new annual nameplate production capacity of 3.024 million tonnes for the Vanscoy facility. As a result, we expect Agrium's new Canpotex allotment will be approximately 10.5 percent of Canpotex's total annual international shipments, effective from the beginning of 2016.
"We are excited to have achieved this significant milestone in our potash expansion ramp up and have done so in a timely and safe manner. The success of the proving run will allow Agrium to distribute more potash to growing international markets," stated Chuck Magro, Agrium's President and CEO. "Agrium remains focused on value creation for our shareholders. This expansion will significantly lower our potash cash cost of production and increase our earnings and free cash flow," added Mr. Magro.
Source: Agrium news release
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