The Mosaic Company

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The Mosaic Company
Type Public
Traded as NYSEMOS
S&P 500 Component
Industry Agriculture, Fertilizer
Founded 2004
Headquarters Plymouth, Minnesota, United States
Key people James T. Prokopanko (President and CEO)[1]
Products Phosphate, Potash, Feed, K-Mag, Pegasus, MicroEssentials
Revenue Increase $ 11.1 billion (FY 2012)[2]
Operating income Steady $ 2.6 billion (FY 2012)[2]
Net income Decrease $ 1.9 billion (FY 2012)[2]
Total assets Steady $ 6.6 billion (FY 2012)[2]
Total equity Increase $ 12.0 billion (FY 2012)[2]
Employees ~8000 (May 31, 2012)[2]
Website mosaicco.com

The Mosaic Company (NYSEMOS) is a Fortune 500 company based in Plymouth, Minnesota, a Minneapolis suburb. Mosaic mines two key crop nutrients—phosphate and potash—and produces specialty products MicroEssentials, K-Mag and Pegasus. It is the largest U.S. producer of potash and phosphate fertilizer.[3]

Overview[edit]

The Mosaic Company is a combined producer and marketer of concentrated phosphate and potash. Its customer base includes wholesalers, retail dealers and individual growers in more than 40 countries. Headquartered in Plymouth, Minnesota, Mosaic employs approximately 8,000 people in eight countries.[2]

Launched October 25, 2004, Mosaic was formed by a merger between IMC Global, a fertilizer company formed in 1909, and Cargill's crop nutrition division.

Products[edit]

Potash[edit]

Mosaic has 9.3 million tonnes of operational capacity (excluding a tolling agreement). Following completion of several expansion projects, Mosaic expects to have an annual operational capacity of approximately 15 million tonnes by 2021. Mosaic operates five potash mines.

Product from its Canadian mines is exported through Canpotex, an export association of Canadian potash producers.

Potash mines are located in:[4]

Phosphate[edit]

Mosaic is the largest producer of finished phosphate products with an annual capacity greater than the next two largest producers combined. It has a global distribution network made up of plants, port facilities, warehouses and sales offices. In 2013 Mosaic produced 7.6 million tons of concentrated phosphate crop nutrients and over 15 million tons of phosphate rock production.[5] In October, 2013, Mosaic reached an agreement to purchase the phosphate operations of CF Industries for 1.4 billion dollars, which eliminates the need for Mosaic to spend an additional billion dollars to build a new processing facility in Hardee County, Florida to process the rock from their mines in that area.[6]

Approximately one-third of the company's phosphate product is shipped within North America, with the remainder exported globally through both PhosChem, an export association, and through its own distribution channel.

Phosphate mines are located in the Bone Valley Formation of the Peace River watershed in Central Florida:[4]

Mosaic Stadium[edit]

Mosaic Stadium, in Regina, Saskatchewan, is home to the CFL's Saskatchewan Roughriders. It is also known as Taylor Field.[7]

Timeline[edit]

2011

  • May: Mosaic and Cargill complete the transaction to split off and distribute Cargill's stake in Mosaic.[8]
  • January: Mosaic and Cargill agree to split off and orderly distribute Cargill's stake in Mosaic.[9]

2007

  • January: Jim Prokopanko succeeds Fritz Corrigan as President and CEO of Mosaic.[10]

2006

  • July: Jim Prokopanko named Mosaic Chief Operating Officer.[11]

2004

  • October: The Mosaic Company (NYSE: MOS) begins trading on the New York Stock Exchange.[12]
  • June: Mosaic announced as the chosen name for the newly formed company.
  • January: The crop nutrition business of Cargill, Inc. and IMC Global enter into a definitive agreement to form a new crop nutrition company.[13]

News[edit]

On 5 November 2013 Mosaic Co reported sharply lower third-quarter earnings – a fall by 70% due to fall in prices of its potash and phosphate.[14]

References[edit]

External links[edit]