Mosaic Endures Shaky Phosphates Market in Fiscal First-Quarter
Mosaic Endures Shaky Phosphates Market in Fiscal First-Quarter 2013, but Sees Solid Sales in Coming Year, an Industrial Info News Alert
SUGAR LAND, TX -- (Marketwire) -- 10/03/12 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- Leading miner and fertilizer producer The Mosaic Company (NYSE:MOS) (Plymouth, Minnesota) reported overall declines in the first quarter of the company's fiscal year 2013, as lower phosphate sales volumes and prices, as well as difficult weather conditions, offset steady gains in the Potash segment. Net earnings were reported to be $429.4 million, an 18.37% decrease from the first quarter of fiscal year 2012. Industrial Info is tracking 34 active Mosaic projects that are worth a total of more than $7 billion, including a $500 million addition at a potash mine in Colonsay, Saskatchewan, and a $33 million addition at a potash mine in Belle Plaine, Saskatchewan.
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