In a news release BHP Billiton reveals it's moving its diamonds and specialty products division -- which includes potash, to Saskatoon.
That will mean another 30 jobs at the Saskatoon office, on top of the 69 already there.
Premier Brad Wall insists the news vindicates the position the government took last year...encouraging the feds to reject BHP's take over bid of Potash Corp last year. He says that hasn't halted investment -- like some predicted.
announcement of 440 layoffs in Saskatchewan is a big blow for the families and
communities affected yet the impact won’t be felt as strongly by the province.
A group of men joke as they sit around a table at the local union building in Lanigan, but the topic they're discussing is no laughing matter.
People in town are still grappling with the shocking news that 240 workers were laid off from the town's potash mine Tuesday morning.
Saskatchewan's leader in the Legislature continues to insist that the potash industry is alive and well in the province.
Tuesday saw Potash Corp. announce hundreds of layoffs will be taking place in Saskatchewan and its operations around the world. Nearly 450 people in this province will see their positions eliminated due to "market conditions," namely the current softness of potash prices on world markets.
PotashCorp is cutting its workforce by about 18 per cent with the biggest hits here at home in Saskatchewan.
The company announced Tuesday morning that about 440 positions will be lost in the province. Another 605 positions will be eliminated worldwide.
"It's a tough day for the company," said Bill Doyle, PotashCorp's president and chief executive. "This is not something that we ever wanted to see but it's responding to market conditions and making sure we do the right thing for the company going forward."
The province insists its budget remains right on track despite a couple of bumps along the line.
The mid-year report released today says a surplus is still expected on both sides of the ledger despite the expectation that government revenues will come in nearly $34 million lower than originally predicted.
Saskatchewan's Premier is telling foreign media the government is bracing for lower potash revenues.
An article published Thursday by Reuters quotes Brad Wall as saying the government is preparing for potash prices to drop by 25 per cent.
Potash Corp said their international buyers have been holding off on making large orders for the food nutrient since the breakup of a Russian potash cartel.
Russia's Uralkali OAO broke up Belarusian Potash Co (BPC) in July. The Russian producer left the export partnership to drive down prices by maximizing sales volume. Potash prices were predicted to plummet by 25 per cent to less than $300 per tonne following the announcement.
Saskatchewan is on pace to surpass the annual export record set last year thanks in large part to the province's producers, potash and trade in Asia.
The first six months of 2013 has generated $17.5 billion in exports, up 4.3 per cent from last year's record.
"Yes it’s oil and potash, but (also) agriculture significantly and a number of other products on the list that we're exporting around the world that demonstrate the diversity of our economy and its strength," Premier Brad Wall told reporters at the legislative building Wednesday morning.
The world's largest mining company plans to continue investing in a massive potash project in Saskatchewan.
Australia's BHP Billiton announced plans to pump a further $2.6 billion into the Jansen potash mine.
The cash will be spread over a number of years and will go towards excavation and lining of the mine's production and service shafts, according to a release put out by the company.
Some of the money is also earmarked for surface development and infrastructure.