Potash Co. loss on low price, closure

In the 9-month period ended Sept 30, Potash Co. of America, Inc. suffered an unaudited loss of $16.3 million, including an extraordinary charge of $3.9 million for shutdown expenses at its Saskatchewan mine. The company is controlled by Rio Algom Ltd. which holds 88.7% of the issued shares.

Sales for this period reached $69.1 million, compared to $29.1 million in 1986. But earnings figures are not comparable, inasmuch as its Sussex mine in New Brunswick was declared to have not reached commercial production until Nov 1, 1986.