The Mosaic Company

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The Mosaic Company
Public
Traded as NYSEMOS
S&P 500 Component
Industry Agriculture, Fertilizer
Founded 2004; 17 years ago (2004)
Headquarters Plymouth, Minnesota, United States
Key people
James T. Prokopanko (President and CEO)[1]
Products Phosphate, Potash, Feed, K-Mag, Pegasus, MicroEssentials
Revenue Increase $ 11.1 billion (FY 2012)[2]
Steady $ 2.6 billion (FY 2012)[2]
Decrease $ 1.9 billion (FY 2012)[2]
Total assets Steady $ 6.6 billion (FY 2012)[2]
Total equity Increase $ 12.0 billion (FY 2012)[2]
Number of employees
~8000 (May 31, 2012)[2]
Website mosaicco.com

The Mosaic Company is a Fortune 500 company based in Plymouth, Minnesota, a Minneapolis suburb. Mosaic mines two key crop nutrients—phosphate and potash—and produces specialty products MicroEssentials, K-Mag and Pegasus. It is the largest U.S. producer of potash and phosphate fertilizer.[3]

Overview

The Mosaic Company is a combined producer and marketer of concentrated phosphate and potash. Its customer base includes wholesalers, retail dealers and individual growers in more than 40 countries. Headquartered in Plymouth, Minnesota, Mosaic employs approximately 9,000 people in eight countries.[2]

Launched October 25, 2004, Mosaic was formed by a merger between IMC Global, a fertilizer company formed in 1909, and Cargill's crop nutrition division.

  • Chairman of the Board of Directors: Robert L. Lumpkins[1]
  • Chief Executive Officer and President: James C. O'Rourke[1]

Products

Potash

K3 North Shaft headframe. Esterhazy, Saskatchewan

Mosaic has 9.3 million tonnes of operational capacity (excluding a tolling agreement). Following completion of several expansion projects, Mosaic expects to have an annual operational capacity of approximately 15 million tonnes by 2021. Mosaic operates five potash mines.

Product from its Canadian mines is exported through Canpotex, an export association of Canadian potash producers.

Potash mines are located in:[4]

  • Carlsbad, New Mexico (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)
  • Belle Plaine, Saskatchewan (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)
  • Colonsay, Saskatchewan (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)
  • Esterhazy, Saskatchewan (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found. and Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)

Phosphate

Mosaic is the largest producer of finished phosphate products with an annual capacity greater than the next two largest producers combined. It has a global distribution network made up of plants, port facilities, warehouses and sales offices. In 2013 Mosaic produced 7.6 million tons of concentrated phosphate crop nutrients and over 15 million tons of phosphate rock production.[5] In October, 2013, Mosaic reached an agreement to purchase the phosphate operations of CF Industries for 1.4 billion dollars, which eliminates the need for Mosaic to spend an additional billion dollars to build a new processing facility in Hardee County, Florida to process the rock from their mines in that area.[6]

Approximately one-third of the company's phosphate product is shipped within North America, with the remainder exported globally through both PhosChem, an export association, and through its own distribution channel.

Phosphate mines are located in the Bone Valley Formation of the Peace River watershed in Central Florida:[4]

  • Fort Meade, Florida (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)
  • Hopewell, Florida (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)
  • Four Corners, Florida (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)
  • Wingate, Florida (Lua error in Module:Coordinates at line 668: callParserFunction: function "#coordinates" was not found.)

Mosaic Stadium

Mosaic Stadium at Taylor Field, in Regina, Saskatchewan, is home to the CFL's Saskatchewan Roughriders. It is also known as Taylor Field.[7]

Timeline

2011

  • May: Mosaic and Cargill complete the transaction to split off and distribute Cargill's stake in Mosaic.[8]
  • January: Mosaic and Cargill agree to split off and orderly distribute Cargill's stake in Mosaic.[9]

2007

  • January: Jim Prokopanko succeeds Fritz Corrigan as President and CEO of Mosaic.[10]

2006

  • July: Jim Prokopanko named Mosaic Chief Operating Officer.[11]

2004

  • October: The Mosaic Company (NYSE: MOS) begins trading on the New York Stock Exchange.[12]
  • June: Mosaic announced as the chosen name for the newly formed company.
  • January: The crop nutrition business of Cargill, Inc. and IMC Global enter into a definitive agreement to form a new crop nutrition company.[13]

News

On 5 November 2013 Mosaic Co reported sharply lower third-quarter earnings – a fall by 70% due to fall in prices of its potash and phosphate.[14]

References

  1. 1.0 1.1 1.2 Mosaic corporate leadership
  2. 2.0 2.1 2.2 2.3 2.4 2.5 2.6 "Mosaic Company 2011 Annual Report, Form 10-K, Filing Date July 31, 2012" (PDF). secdatabase.com. Retrieved February 20, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  3. Bloomberg, Mosaic Says Fertilizer Prices to Remain ‘Challenging’ Into 2014, 5 November 2013
  4. 4.0 4.1 "Global Presence Map". Retrieved February 20, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  5. http://www.reuters.com/finance/stocks/companyProfile?symbol=MOS
  6. http://tbo.com/news/business/mosaic-buys-cf-industries-tampa-area-phosphate-facilities-20131028/
  7. "A new, old name". The Leader-Post. 2006-06-23. Retrieved 2013-02-20.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  8. "Mosaic Company Form 8-K12B, Filing May 25, 2011" (PDF). secdatabase.com. Retrieved February 20, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  9. "Cargill to Split Off 64% Stake in Mosaic to Holders". Bloomberg. Retrieved February 20, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  10. "Mosaic Company Form 8-K, Filing October 3, 2006" (PDF). secdatabase.com. Retrieved February 20, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  11. "Mosaic Company Form 8-K, Filing July 12, 2006" (PDF). secdatabase.com. Retrieved February 20, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  12. "The Mosaic Company Launches Today as Newest Fortune 500-sized, NYSE-listed firm" (PDF). October 25, 2004. Retrieved February 23, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  13. "Cargill and IMC Global to Combine Fertilizer Units". The New York Times. Retrieved February 20, 2013.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  14. Reuters, Mosaic profit plunges 70 pct on weaker prices, sales, 5 November 2013

External links