phosphate, phosphate, phosphate!, page-21

Judge's ruling extends Mosaic's Florida mine woes

NEW YORK (Reuters) - A federal judge has extended an order keeping Mosaic Co from expanding a Florida phosphate mine, dealing yet another blow to the fertilizer producer and pushing its stock down 5.2 percent.

The mine has about 15 years of phosphate reserves and produces 6.5 million tons of the fertilizer each year. That represents a third of Mosaic's yearly phosphate capacity and 4 percent of the world's.

If the Florida mine closes -- a step that is improbable but not impossible -- the world's phosphate supply would tighten, boosting prices for crops.


Read more: http://www.foxbusiness.com/markets/2011/07/11/judges-ruling-extends-mosaics-florida-mine-woes/#ixzz1SdvXOdjD