A NEW CONTRACT FOR DANIELI EXSTREAM II ACCELERATED COOLING SYSTEM
Mosaic to sell Brazil potash mine in $27M deal amid tariff and demand pressures
me-metals: Mosaic Co. (NYSE: MOS) has agreed to sell its Taquari-Vassouras potash mine in Brazil to VL Mineração for up to $27 million in cash, with the buyer also assuming approximately $22 million in asset retirement obligations.
According to me-metals cited from mining.com, The deal, subject to approval by Brazil’s Administrative Council for Economic Defense (CADE), will be paid in installments: $12 million at closing, $10 million one year later, and $5 million over six years.
Mosaic said operations at the Taquari mine require more than $25 million in new capital to remain viable.
The company believes the funds could generate better returns if deployed elsewhere in its portfolio.
According to Mosaic, VL Mineração has indicated it is prepared to make the investments necessary to extend the life of the Taquari operations.
Mosaic shares rose 2.89% Wednesday morning in New York, giving the company a market capitalization of $10.1 billion.
Market and tariff headwinds
The sale comes as Mosaic grapples with a sharp decline in share price and weaker fertilizer demand across key markets. Shares of the world’s leading producer of phosphate and potash fertilizers dropped as much as 13% on Wednesday, their steepest fall since May 2022, hitting a three-month low.
The selloff followed the company’s second-quarter earnings release, which highlighted the impact of US tariffs on phosphate imports leading to reduced sales volumes. US imports of phosphate and potash are down about 20% year-to-date, a trend Mosaic expects to continue.
Farmers’ nutrient budgets have also tightened as corn and soybean prices fall amid “global trade uncertainty” and expectations for large harvests, said Jenny Wang, Mosaic’s executive vice president of commercial.
Mosaic posted an $8 million loss in its phosphate segment for the quarter, as planned maintenance projects to boost production took longer than expected, further squeezing sales volumes.
source: mining.com
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