SÃO PAULO--(BUSINESS WIRE)--Mosaic Fertilizantes, the Brazil-based business unit of The Mosaic Company (NYSE: MOS), today announced that it has resumed mining at full capacity at its Araxá and Tapira mines in the state of Minas Gerais, marking the end of the regulatory required idling of the company’s tailings dams.
“I am proud of how our teams responded to meet the new regulatory requirements in Brazil,” said Rick McLellan, SVP, Mosaic Fertilizantes. “Solid execution across our business has allowed us to return these operations to full capacity ahead of plan and ensures that we are positioned to meet farmer demand heading into Brazil’s key planting season.
“We believe the revised regulatory requirements will make mining safer for our employees, our communities and the environment.”
The company’s Catalão mine, also idled due to the regulatory changes, resumed operations in June.
About The Mosaic Company
The Mosaic Company is the world's leading producer and marketer of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the Company is available at www.mosaicco.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the anticipated benefits of the new regulatory requirements in Brazil and out capacity to meet farmer demand in Brazil. Such statements are based upon the current beliefs and expectations of The Mosaic Company’s management and are subject to significant risks and uncertainties. These risks and uncertainties include, but are not limited to: current and continued compliance with the new regulatory requirements in Brazil, and changes thereto, including because of political and economic instability in Brazil or changes in government policy in Brazil, such as higher costs associated with the new mining rules and remediation efforts; the predictability and volatility of, and customer expectations about, agriculture, fertilizer, raw material, energy and transportation markets that are subject to competitive and other pressures and economic and credit market conditions; the level of inventories in the distribution channels for crop nutrients; the effect of future product innovations or development of new technologies on demand for our products; changes in foreign currency and exchange rates; international trade risks and other risks associated with Mosaic’s international operations; the risk that protests against natural resource companies in Peru extend to or impact the Miski Mayo mine, which is operated by an entity in which we are the majority owner; customer defaults; changes in environmental and other governmental regulation in Brazil, including expansion of the types and extent of water resources regulated under federal law, carbon taxes or other greenhouse gas regulation; further developments in judicial or administrative proceedings, or complaints that Mosaic’s operations are adversely impacting nearby farms, business operations or properties; difficulties or delays in receiving, increased costs of or challenges to necessary governmental permits or approvals or increased financial assurance requirements; the effectiveness of Mosaic’s processes for managing its strategic priorities; adverse weather conditions affecting operations in Brazil, and including potential hurricanes, excess heat, cold, snow, rainfall or drought; reduction of Mosaic’s available cash and liquidity, and increased leverage, due to its use of cash and/or available debt capacity to fund financial assurance requirements and strategic investments; other accidents and disruptions involving Mosaic’s operations, including potential mine fires, floods, explosions, seismic events, sinkholes or releases of hazardous or volatile chemicals; and risks associated with cyber security, including reputational loss; as well as other risks and uncertainties reported from time to time in The Mosaic Company’s reports filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements.