- March 27, 2024
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TAMPA — The Mosaic Co. has completed the purchase of CF Industries Holdings Inc.'s phosphate business for $1.2 billion in cash plus $200 million to fund asset retirement obligations.
The sale includes a 25,000-acre phosphate mine and plant, a phosphate manufacturing facility, ammonia terminal and finished product warehouse facilities in the Port Tampa Bay area. The facilities currently produce 1.8 million metric tons of phosphate fertilizer per year, which will bring Mosaic's annual phosphates capacity to more than 11 million metric tons.
Mosaic President and Chief Executive Officer James Prokopanko says in a press release that the purchase would enhance Mosaic's operating efficiencies, lower production costs and reduce its capital investment. The purchase will also work into Mosaic's plans to mine phosphate rock reserves in Hardee and Desoto counties and the extension of the existing Wingate mine.
The Mosaic Co. is one of the world's top producers and marketers of concentrated phosphate and potash crop nutrients.
The phosphate and fertilizer business passing through Port Tampa Bay has a particularly large impact on the region. A recent study completed by Martin Associates of the port's economic impact indicates that phosphate/fertilizer activities at the Port of Tampa generate more than 43,000 jobs and spurs $10.6 billion in annual local/regional economic impact.