Oct. 2 (Bloomberg) -- Phosphate Chemicals Export Association Inc., a joint venture that marketed U.S. phosphate exports from fertilizer producers Mosaic Co. and Potash Corp. of Saskatchewan Inc., was wound down.
The venture, also known as PhosChem, was disbanded effective yesterday, Rob Litt, a spokesman for Plymouth, Minnesota-based Mosaic, said today in a phone interview. Litt, who declined to give a reason for the move, said Mosaic provided about 93 percent of PhosChem’s export volumes, with the remainder coming from Potash Corp. of Saskatchewan Inc.
“There wasn’t a whole lot of Potash Corp. product moving through PhosChem,” Bill Johnson, a Potash Corp. spokesman, said by phone, without elaborating on the reasons for ending the venture. The Saskatoon, Saskatchewan-based company mines phosphate in North Carolina.
The demise of PhosChem comes two months after OAO Uralkali, the world’s largest supplier of potash fertilizer, withdrew from Belarusian Potash Co., a marketing joint venture with rival producer Belaruskali. That decision sent shares of potash companies plunging globally.
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