Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
For the last 40 years, nine potash mines have been operating in Canada’s western-central province of Saskatchewan. But that’s about to change.
By the end of June, K+S Potash Canada and partner Amec Foster Wheeler — in charge of the project design and management — hope to start production at the Legacy project, a new site with an expected output of 2 million tonnes per year once at full capacity.
Earlier this month, the company welcomed the first 177 of 531 custom-built rail cars, which shows how close they are to starting production, K+S said.
Interviewed by MINING.com’s Cecilia Jamasmie during the 2017 Prospectors & Developers Association of Canada Convention in Toronto, AmecFW’s Mining President, David Lawson, explained why, despite the tough climate in the potash industry, he is optimistic about the future of the Saskatchewan project.
Similarly, AmecFW’s Senior Vice President Mining, Duane Gingrich, talked about the challenges and advantages of building Legacy in the prairies.
According to Gingrich, the project’s developers have been able to reduce its footprint and volume by 45%, saving nearly $100 million in cost of concrete. At the same time, he added, by designing and fabricating items away from the site, they have saved considerable amounts of time and money.
