Market Chatter: Potash's Rocanville Mine to Restart Production after Tuesday's Fire; Shares Dip Lower

By Staff,

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Potash Corp./Saskatchewan ( POT ) anticipates that its second-biggest mine will resume operations sometime today after rescuers extinguished a fire that temporarily trapped 20 workers, according to Reuters. No injuries were reported.

The fire started with a wooden spool of cable in the company's Rocanville, Saskatchewan, mine, where 29 workers were underground at the time. Nine were rescued on Tuesday morning; the remaining 20 were trapped in underground rescue stations until the last worker was recovered Tuesday evening after being underground for 18 hours since the start of the fire.

Reuters reports that the plant, which has annual operating capacity of 2.7 million metric tonnes, normally runs 24/7 and was operating at normal capacity prior to the fire.

POT trades in a 52-week range of $36.73 - $51.96. Shares have fallen 9% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: POT

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