North east Potash mine in village of Boulby which is owned by ICL Fertilizers announces 360 job cuts
A Potash mine in the north east has announced 360 job cuts as its potash reserves begin to run dry, prompting a restructuring of the business.
The Boulby mine, owned by ICL Fertilizers, is moving towards a polyhalite-based form of potash which is more environmentally friendly, and away from that of potassium-based potash.
As part of this, it's started a consultation on 220 job cuts among its employees, as well as a further 140 job losses among its contractors.
Today's announcement is another blow to a region which has already been hit by large job cuts, including the loss of 2,200 jobs at SSI steelworks in Redcar.
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“The reality of our potash reserves running out by 2018 means we must develop a new business strategy if we are to continue mining at Boulby," Peter Smith, executive vice president-potash of ICL, said in a statement.
"That strategy is based on moving our focus to polysulphate production. We are in a strong position as the only producer of polysulphate, and based on initial market acceptance of the product, ICL is prepared to invest significant resources in," he added.
The company would not comment on whether there will be more job losses in 2018.