A major blow to the New Brunswick economy with the announcement by Potash Corp of Saskatchewan that it’s indefinitely suspending its potash operations at Picadilly.
420 to 430 people in the province will lose their jobs. A core crew of approximately 35 employees will be retained at Picadilly to keep the operation in care-and-maintenance mode.
More than 100 jobs will be available for the New Brunswick employees to relocate to Saskatchewan. Should the company decide to resume operations at Picadilly, it would require a period of about one year.
The suspension of potash operations at Picadilly will also eliminate significant capital expenditures of about $50 million in 2016 and $135 million in 2017 and 2018.
