Agrium takes 100 M charge on phosphate assets;seeks rock source;sells non-core asset

摘要

Agrium Inc.said Dec.18 that it expects to adjust the carrying cost of its Kapus-kasing phosphate rock mine and associated Redwater phosphate facility,resulting in a non-cash,after-tax charge of approximately 100 million in the corporation's fourth-quarter financial results.Recent quality issues with the rock from Agrium's Kapuskasing phosphate mine resulted in a comprehensive drilling program as part of an extensive reevaluation of the nature of the reserves.The outcome of the drilling program has resulted in a reduction in the estimated economic ore reserve life from 2019 to 2013,which triggered an impairment review of Agrium's Canadian phosphate operations'carrying cost.