July 24th, 2024

Nutrien no longer pursuing Geismar clean ammonia project

By The Canadian Press on June 12, 2024.

The Nutrien Ltd. (TSX:NTR) corporate logo is seen in this undated handout photo. THE CANADIAN PRESS/HO, Nutrien MANDATORY CREDIT

SASKATOON – Nutrien says it’s no longer pursuing its Geismar clean ammonia project as part of a move to simplify its portfolio and focus on its core assets.

The company made the announcement in a press release ahead of its annual investor day.

The Saskatoon-based company announced last year it was suspending the project after a period of unprecedented volatility in fertilizer markets.

It also announced at the time it was indefinitely pausing a planned ramp-up in potash production.

In May, Nutrien president and CEO Ken Seitz said the company was encouraged by strong demand and continued market stabilization in the first quarter of the year.

Nutrien said on Wednesday that the company is prioritizing investments to enhance its North American fertilizer production assets, among other initiatives.

This report by The Canadian Press was first published June 12, 2024.

Companies in this story: (TSX:NTR)

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