Mosaic Acquires Final Permit for Ona Phosphate Mining Project
PLYMOUTH, Minn.--(BUSINESS WIRE)--Jan 3, 2019--The Mosaic Company (NYSE: MOS) today announced that it has acquired the U.S. Army Corps of Engineers 404 permit for its Ona phosphate mine project in Hardee County, Florida. This was the final remaining permit for the project and secures 160.2 million tons of phosphate rock for future mining. The overall project covers 22,483 acres with 16,778 acres of land permitted for mining. The western extent of the project will extend the life of Mosaic’s Four Corners mine by fourteen years, while the eastern extent will provide mining for future decades at the South Pasture mine once production resumes at that facility.
“This important project helps secure the continued operation of our Florida manufacturing facilities,” said Mosaic President and CEO Joc O’Rourke. “It will deliver tremendous value to the local community, our employees and our investors well into the future.”
Permitting efforts for the Ona project began in 2011. Mining permits from the State of Florida were issued in 2015 and local government permits were secured in July, 2018.
About The Mosaic Company
The Mosaic Company is one of the world’s leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single-source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the anticipated benefits or strategic plans and other statements about anticipated future financial, production and operating performance. Such statements are based upon the current beliefs and expectations of The Mosaic Company’s management and are subject to significant risks and uncertainties. These risks and uncertainties include, but are not limited to: difficulties with realization of the benefits or strategic plans; actual costs of various items differing from management’s current estimates, price and demand volatility for our products, other changes in market conditions, accidents and disruptions, including potential mine fires, floods, explosions, seismic events, sinkholes or releases of hazardous or volatile chemicals; changes in foreign currency and exchange rates; international trade risks and other risks associated with Mosaic’s international operations, changes in government policy, changes in environmental and other governmental regulation, as well as other risks and uncertainties reported from time to time in The Mosaic Company’s reports filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements.
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The Mosaic Company
The Mosaic Company
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA MINNESOTA
INDUSTRY KEYWORD: NATURAL RESOURCES AGRICULTURE MINING/MINERALS
SOURCE: The Mosaic Company
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PUB: 01/03/2019 05:23 PM/DISC: 01/03/2019 05:22 PM