The Mosaic Company Enters Phosphate Joint Venture With Ma'aden and SABIC in Saudi Arabia

 The Mosaic Company Enters Phosphate Joint Venture With Ma'aden and SABIC in
                                 Saudi Arabia

PR Newswire

PLYMOUTH, Minn., March 19, 2013

PLYMOUTH, Minn., March 19, 2013 /PRNewswire/ -- The Mosaic Company (NYSE: MOS)
today announced that it has entered into a Heads of Agreement with Ma'aden and
the Saudi Basic Industries Corporation (SABIC) under which the companies
intend to enter a joint venture to develop integrated phosphate production
facilities in the Kingdom of Saudi Arabia. The parties contemplate that
Ma'aden, Mosaic and SABIC would own 60, 25 and 15 percent of the joint
venture, respectively.

The approximately $7 billion greenfield project, to be known as Wa'ad Al
Shammal Phosphate Project, would be built in the northern region of Saudi
Arabia at Wa'ad Al Shammal Minerals Industrial City, and would include further
expansion of processing plants in Ras Al Khair Minerals Industrial City which
is located on the east coast of Saudi Arabia. The joint venture  would develop
a mine and chemical complexes that would produce phosphate fertilizers, animal
feed, food grade purified phosphoric acid and sodium tripolyphosphate for sale
to customers worldwide. The highly cost-efficient facilities are expected to
have a production capacity of approximately 3.5 million tonnes of finished
product per year. Operations are expected to commence in late 2016.

Under the terms of the agreement, Mosaic would contribute expertise to the
design, construction and operations of the new facilities and acquire a 25
percentownership stake. In connection with its equity share, Mosaic would
market approximately 25 percent of the production of the joint venture.
Subject to final financing terms, Mosaic's cash investment would be up to $1
billion, funded over a four-year period beginning in 2013.

"Our joint venture with Ma'aden holds great promise for Mosaic, and we expect
it to be an excellent complement to our phosphate business in Florida and
Louisiana," said Mosaic President and Chief Executive Officer Jim Prokopanko.
"This cost-effective phosphate project would enable Mosaic to further
diversify our sources of phosphates and gives us improved access to key
agricultural countries. Our growing global reach further enables us to fulfill
Mosaic's mission, to help the world grow the food it needs, while delivering
compelling shareholder value."

Facts about the project:

  oPhosphate production at the Ma'aden project would benefit from the
    availability of key raw materials which are available locally from sources
    within Saudi Arabia.
  oThe project would provide logistical benefits to Mosaic, enabling it to
    ship phosphates to important phosphate geographies.
  oThe parties expect to enter into a definitive shareholders agreement
    during the first half of 2013.

About The Mosaic Company

The Mosaic Company is one of the world's leading producers and marketers 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.

About Ma'aden

Ma'aden is a leading mining and metals company in the Kingdom of Saudi Arabia,
with a diverse portfolio of mineral assets at various stages of development
including exploration, development and production. Ma'aden has a broad
commodity focus spanning gold, phosphate, aluminium, magnesia, low-grade
bauxite, industrial minerals, and is continually assessing opportunities to
enter into new commodities that demonstrate strong long-term fundamentals and
opportunities for growth. Ma'aden's objective is to become a world class
diversified mining and minerals company, and to enhance overall value for its
shareholders. Ma'aden's mission is to be a profitable, publicly owned,
international mining company, while maintaining the utmost concern for human
resources, health, safety, environmental and social issues. For more
information please visit www.maaden.com.sa.

About SABIC

Saudi Basic Industries Corporation (SABIC) ranks among the world's top
petrochemical companies. The company is among the world's market leaders in
the production of polyethylene, polypropylene and other advanced
thermoplastics, glycols, methanol and fertilizers.

SABIC recorded a net profit of SR 24.72 billion (US$ 6.59 billion) in 2012.
Sales revenues for 2012 totaled SR 189 billion (US$ 50.40 billion). Total
assets stood at SR 338 billion (US$ 90.13 billion) at the end of 2012.

SABIC's businesses are grouped into Chemicals, Polymers, Performance
Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant
research resources with 18 dedicated Technology & Innovation facilities in
Saudi Arabia, the USA, the Netherlands, Spain, Japan, India, China and South
Korea. The company operates in more than 40 countries across the world with
around 40,000 employees worldwide.

SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and
Asia Pacific. Headquartered in Riyadh, SABIC was founded in 1976 when the
Saudi Arabian Government decided to use the hydrocarbon gases associated with
its oil production as the principal feedstock for production of chemicals,
polymers and fertilizers. The Saudi Arabian Government owns 70 percent of
SABIC shares with the remaining 30 percent held by private investors in Saudi
Arabia and other Gulf Cooperation Council countries.

This press 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 future financial and operating
results. 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
the ability of Mosaic, Ma'aden and SABIC to agree upon definitive agreements
relating to the prospective joint venture for the Wa'ad Al Shammal Phosphate
Project, the final terms of any such definitive agreements, the ability of the
joint venture to obtain project financing in acceptable amounts and upon
acceptable terms, the future success of current plans for the joint venture
and any future changes in those plans; 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; changes in foreign currency and
exchange rates; international trade risks; changes in government policy;
changes in environmental and other governmental regulation, including
greenhouse gas regulation, implementation of the U.S. Environmental Protection
Agency's numeric water quality standards for the discharge of nutrients into
Florida waterways or possible efforts to reduce the flow of excess nutrients
into the Mississippi River Basin or the Gulf of Mexico; further developments
in judicial or administrative proceedings including without limitation
settlements thereof and actions taken by courts with respect to approvals of
settlements, or complaints that Mosaic's operations are affecting nearby
property uses; resolution of global tax audit activity; difficulties or delays
in receiving, increased costs of or challenges to necessary governmental
permits or approvals or increased financial assurance requirements; resolution
of global tax audit activity; the effectiveness of the Company's processes for
managing its strategic priorities; adverse weather conditions affecting
operations in Central Florida, the Mississippi River Basin or the Gulf Coast
of the United States, and including potential hurricanes, excess rainfall or
drought; actual costs of various items differing from management's current
estimates, including, among others, asset retirement, environmental
remediation, reclamation or other environmental regulation, or Canadian
resources taxes and royalties; accidents and other disruptions involving
Mosaic's operations, including brine inflows at its Esterhazy, Saskatchewan
potash mine and other potential mine fires, floods, explosions, seismic events
or releases of hazardous or volatile chemicals, 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.

SOURCE The Mosaic Company

Website: http://www.mosaicco.com
Contact: Media, Rob Litt, The Mosaic Company, +1-763-577-6187,
rob.litt@mosaicco.com, or Investors, Laura Gagnon, The Mosaic Company,
+1-763-577-8213, investor@mosaicco.com
 
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