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Mosaic Reaches Settlement To Allow Mining At Key Florida Site

DOW JONES NEWSWIRES Mosaic Co. (MOS) has settled a dispute with the Sierra Club that will allow mining at a key Florida phosphate mine, the company announced Tuesday. The fertilizer company said the settlement will resolve the pending federal court proceedings "in their entirety." Some investors had expected the dispute could take years to resolve. The Sierra Club and local environmental groups had sued to stop an expansion of the South Fort Meade mine, southwest of Orlando, which represents about a third of the company's phosphate mining capacity. The company had secured permits from the U.S. Army Corps of Engineers, but the environmental groups successfully sought an injunction to halt expansion pending further review. The issue has loomed over the company for the past year and a half. "This settlement provides certainty around our South Fort Meade mine and we look forward to bringing it back to full production," said Richard Mack, Mosaic executive vice president and general counsel. As part of the agreement, which still requires court approval, the Sierra Club will drop its challenge to the permit. In exchange, the company will take several steps to conserve certain land tracts in the area, including a horse range. Mosaic shares climbed 2.3% Tuesday and were up 3.2% to $58.75 in after-hours trading. -By Ian Berry, Dow Jones Newswires; 312-750-4072; [email protected]

Stock News for Mosaic (MOS)
DateTimeHeadline
02/17/201716:38:55Automatic Shelf Registration Statement of Securities of Well-known...
02/17/201712:10:17Current Report Filing (8-k)
02/15/201716:51:59Annual Report (10-k)
02/15/201712:21:00Mosaic To Present At Upcoming Investor Conferences
02/13/201717:03:28Annual Statement of Changes in Beneficial Ownership (5)
02/13/201717:03:01Statement of Changes in Beneficial Ownership (4)
02/10/201710:20:12Amended Statement of Ownership (sc 13g/a)
02/08/201706:02:30Statement of Ownership (sc 13g)
02/07/201714:17:24Statement of Ownership (sc 13g)
02/07/201709:29:00Fertilizer Maker Mosaic Slashes Dividend Amid 14% Slide in Sales
02/07/201706:53:31Current Report Filing (8-k)
02/07/201706:45:00The Mosaic Company Reports Fourth Quarter And Full-Year 2016...
01/25/201714:53:22Amended Statement of Ownership (sc 13g/a)
01/17/201716:15:00Mosaic Announces 2016 Full Year And Fourth Quarter Earnings Release...
12/19/201611:41:41Current Report Filing (8-k)
12/19/201607:55:00Mosaic to Buy Vale's Fertilizer Business for $2.5 Billion...
12/19/201607:00:00Mosaic to Buy Vale's Fertilizer Business for $2.5 Billion
12/19/201606:02:00The Mosaic Company To Acquire Vale Fertilizantes For $2.5 Billion
12/15/201617:13:00Mosaic Announces Quarterly Dividend Of $0.275 Per Share
11/21/201617:17:38Current Report Filing (8-k)

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