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Mosaic Announces Major Potash Expansions

11:58 AM MDT | April 18, 2008 | Rebecca Coons

Mosaic says it will invest $3.15 billion to increase the company’s potash capacity 49%, or 5.1 million tons/year, over the next 12 years. Production will be expanded at the company’s three sites in Saskatchewan, Canada. “We believe the global demand and supply fundamentals support this growth in our capacity and will allow us to fulfill our growing customer needs,” says Jim Prokopano, Mosaic president and CEO. Mosaic reported net income for its fiscal third quarter, ended February 29, of $520.8 million ($1.17/share), a 12-fold...

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