A reworked sale process for plants located in the southeastern city of Cubatão was reportedly launched in recent days.
Mosaic Company Mining News
Instead, the company is moving forward with a new prefeasibility study for the Argentina-based asset.
Mosaic has agreed to acquire most of Vale's phosphate assets in Brazil, its stake in Peru's Bayovar mine and the firm’s Kronau potash project, in Canada.
If prices for the commodities it mines continue to pick up, the firm must cancel plans to sell some of its best assets.
Most of the division’s assets will be acquired by Mosaic, the world’s largest producer of phosphate fertilizer.
Case study of how favorable results were achieved with a new wireless communication network at Mosaic Four Corners' phosphate mines.
A cash-and-stock deal is said to be the favourite option at this point, though the parties are also discussing other alternatives.
The company also fell behind the consensus estimates for both earnings and revenue.
The move would allow the potash firm to reacquire Class A or common shares, through open market purchases, accelerated share repurchase arrangements, privately negotiated transactions or otherwise.
Mosaic Co. has announced it will spend $1.7 billion to expand its K3 potash mine near Esterhazy, Saskatchewan.
The Ochoa mine could produce about 714,400 tons of sulphate of potash per year for a minimum of 50 years.
The acquisition will allow Mosaic to abandon its plans to build a $1.1-billion ammonia manufacturing plant in Faustina, Louisiana.
Now the potash industry may be opening up, creating more opportunities for companies to market themselves.