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Stock Market & Financial Investment News

News Breaks
July 23, 2014
08:34 EDTMOSMosaic to permanently discontinue production of MOP at Carlsbad facility
Mosaic said in a filing that on July 21 it decided to permanently discontinue production of muriate of potash at its Carlsbad, New Mexico facility. The final date for production is expected to be December 31. The decision is based on the quality of the ore in the Carlsbad basin and the age of the facility's infrastructure. These combined factors make it difficult for the operations to remain competitive in an already challenging global market. The discontinuation of this product at Carlsbad is a further step in our previously announced ongoing asset optimization initiatives. Its larger potash production facilities at Esterhazy, Belle Plaine and Colonsay in Saskatchewan, Canada will continue to produce MOP.Mosaicís plan for the immediate future is to transition the Carlsbad facility to the exclusive production of its highly valued K-Mag product line. K-Mag is a premium potash product that currently represents approximately 70% of production at the Carlsbad facility and is a long-term strategic asset for us.We currently estimate that the discontinued production will result in total pre-tax charges in the range of $135M-$160M. The third quarter pre-tax charges are estimated to be in the range of $55M-$77M with the majority of the remainder expected to be recorded in the fourth quarter.
News For MOS From The Last 14 Days
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March 26, 2015
07:33 EDTMOSMosaic April weekly volatility elevated into Q4 and outlook
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March 25, 2015
10:42 EDTMOSMosaic to host analyst day
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March 24, 2015
08:31 EDTMOSCanpotex undercut by Belaruskali deal with China, FT reports
Belarus' state-owned fertilizer group, Belaruskali, has agreed to sell its potash to Chinese buyers at $315 a tonne for the first half of 2015, which is well below market prices which are currently about $330-$340 a tonne, said Financial Times, noting that Canpotex, the offshore marketing company jointly owned by Agrium (AGU), Mosaic (MOS), and Potash Corp. (POT), had been holding out for higher prices with the Chinese. Reference Link

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