ISA causes $5 million loss for Nova Austral/Trusal joint venture – harvest reduced by 7,000 tonnes

News
609

Virus found at Salmones Porvenir’s cages in July.

On July 17th, SalmonBusiness reported that ISA (infectious salmon anemia) had been detected in two salmon cages Salmones Porvenir maintain in the Magallanes region, Southern Chile.

The salmon farm, which is a joint venture between Nova Austral (half-owned by private equity firm Bain Capital) and Trusal (a Salmones Austral subsidiary), initially estimated a loss of around USD 700,000. The project was announced in February.

In a statement from Nova Austral on the Oslo Stock Exchange on Tuesday, the salmon farmer wrote that it is now having to harvest fish from “Navarro 3” site at a considerably higher loss.

The “Navarro 3” site had 16 cages with a total of 1,374,897 fish. The affected 14 cages contain approximately 1,198,578 fish with an average weight of which is 490.8 grams.

Due to the early harvest of the 14 cages in the “Navarro 3” site, the Salmones Porvenir joint venture is looking at a maximum loss of approximately USD 5.1 million.

The 14 cages will be harvested within a period of 30 days, so the production cycle in progress at the “Navarro 3” site will finish earlier.

“This situation will impact the estimated harvest volumes for 4Q21, reducing them in approximately 7,000 tonnes. The second site of the JV that was planned to be stock during September will be stock during December this year due to industry regulations, while the third site will be stocked as planned during the 1Q21,” it wrote.

Trusal is owned by 99.99 per cent by Salmones Austral. Trusal owns 50 per cent of the shares in Salmones Porvenir.