The newly formed fertilizer giant Nutrien has issued their first financial update since the Potash Corp-Agrium merger.

Since joining together, the company says that they have already saved $40-million, on their way to a target goal of $500-million annually.

Initial projections for the year have the company's earnings between $3.2 and $3.7 billion.

As far as the six operable mines in the province go, Nutrien says that there are no current plans to close mines, though it was added that they will re-evaluate at the end of the year.

Nutrien absorbed the five PCS mines at Lanigan, Allan, Cory, Patience Lake, and Rocanville, as well as one Agrium mine at Vanscoy.