Reading Time: < 1 minute Winter wheat in Western Canada is getting a boost thanks to The Mosaic Company Foundation, the newest member of the Western Winter Wheat Initiative. The foundation is giving the initiative $1 million over the next three years. “Now that The Mosaic Company Foundation is on board, we are able to continue supporting the growth of […] Read more
Western Winter Wheat Initiative gets $1-million boost
Canpotex sees terminal expansion decision late next year
Winnipeg | Reuters — The new chief executive of Canpotex expects the Canadian potash trader to decide around late 2016 where to expand West Coast terminal capacity, a move that could give it a faster route to Chinese buyers in a highly competitive market. Options include building a $775 million terminal at Prince Rupert, B.C., […] Read more
Mosaic sees sliding fertilizer sales; cost-cutting boosts profit
Fertilizer sales look to slide through the rest of the year, U.S. producer Mosaic Co. said on Tuesday, as greater shipments into key markets by rivals in Belarus and China boost competition. The world’s largest producer of finished phosphate products reported a bigger-than-expected quarterly profit, helped by cost-cutting. Fertilizer prices have fallen as the strong […] Read more
Mosaic lays off staff at Sask. potash mine
Reuters — U.S. fertilizer company Mosaic Co. has laid off 46 unionized workers, or eight per cent of the workforce, at its Colonsay, Sask. potash mine, the company said Friday, as producers struggle with weak demand. Potash prices have fallen in the past year due to excessive mining capacity and reduced demand in key markets. […] Read more
Mosaic cuts potash output as demand slumps
Reuters — U.S. fertilizer company Mosaic Co. said Monday it would cut potash production and maintain its reduced phosphate output pace, lowering its outlook for sales. Delayed fertilizer purchases in Brazil and North America have weakened markets, along with volatile currency and equity markets and lower crop prices, Mosaic said in a statement after markets […] Read more
Mosaic sees lost potash sales if Sask. hikes taxes
New York | Reuters –– U.S. fertilizer producer Mosaic Co. would lose potash sales if Saskatchewan raises taxes on miners, and customers choose competitors from other countries, its CEO said on Wednesday. “If they were to tax more, we would suffer from that, we would sell less, our profits would be less and they will […] Read more
PotashCorp, Mosaic profits climb less than expected
Reuters — North America’s two biggest potash producers, PotashCorp and Mosaic Co., reported larger first-quarter profits on Thursday, but results missed expectations. Saskatoon-based PotashCorp, the world’s biggest fertilizer maker by market capitalization, cut its full-year profit forecast, and both companies warned potash prices could slide. Prices are yet to recover after a collapse in 2013, […] Read more
Cost-cutting Mosaic CEO collects $5.5M pay raise
Reuters — U.S. fertilizer producer Mosaic Co. boosted its CEO’s pay last year by more than $5 million as a reward for slashing costs and jobs, a regulatory filing shows. Construction of excess potash capacity and fiercer competition have pressured the sector, and leading North American producers Mosaic, PotashCorp and Agrium have chopped expenses. Mosaic […] Read more
Mosaic bracing for royalty hit from Sask. potash policy
U.S. fertilizer firm Mosaic Co. expects Saskatchewan’s new changes to its potash royalty structure to cost the company up to an extra US$100 million in 2015. Minnesota-based Mosaic said Monday its “expected impact” from Saskatchewan’s retroactive move in its 2015 budget will increase the company’s 2015 pre-tax payments by $80 million to $100 million (all […] Read more
Saskatchewan aims to ease potash tax’s price reliance
Winnipeg | Reuters — Resource-rich Saskatchewan wants to change the taxes it charges on production of potash, to better reflect output and lessen the influence of potash prices, the province’s economy minister said Thursday. Potash prices have weakened since 2012 as capacity has increased. Competition has also sharpened since the 2013 breakup of Belarusian Potash […] Read more
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