Mosaic to idle production at Brazil phosphate mines
Mosaic (NYSE:MOS) says it will idle production at its Tapira and Catalão phosphate mines in Brazil to comply with new regulations governing mine tailings dams.
MOS says it took the action after Brazil's national mining agency did not approve an application for the extension of the deadline for submission of stability condition statements for three of its dams.
MOS says it has the rock and finished product inventory necessary to meet near-term market requirements, and will ship phosphates from its operations in Florida and rock from its Peruvian mine to meet customer needs in Brazil.
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