Potash is commercially mined through two methods, conventional underground mining and solution mining techniques. Solution mining offers a few advantages compared to conventional underground mining including lower up-front capital cost and a shorter ramp-up time.
The Mosaic Company (NYSE:MOS) reported Q1 earnings of $257 million, down from $295 million the year previous, on the back of lower potash sales volumes and lower prices.
As quoted in the press release:
Earnings per diluted share were $0.73 and included a positive impact of $0.59 from notable items, primarily related
BMO Capital Markets’ Global Metals & Mining Conference wrapped up last week, and certainly provided a broad snapshot of the industry.
Monday marked the first day of the annual BMO Capital Markets Metals and Mining Conference in Hollywood, Florida.
The Mosaic Company (NYSE:MOS) released its results for Q4 2015, as well as the year as a whole, noting that its quarterly net earnings came in at $155 million, down from $361 million in Q4 2014.
The Mosaic Company (NYSE:MOS) announced plans to reduce phosphate production. The move is a response to “current crop nutrient market conditions.”
Mosaic (NYSE:MOS) reported its third quarter 2015 net earnings of $160 million, down from $202 million in Q3 2014. EArnings per diluted share for the quarter were $0.45 compared to $0.54 last year.
CBC News reported that Mosaic Co (NYSE:MOS) is permanently laying off 46 workers at its mine in Colonsay, Saskatchewan effective December 14.
As quoted in the market news:
“We’re extremely disappointed about this announcement considering the company is still massively profitable,” said Mike Pulak, staff representative for the Steelworkers’ union which represents the workers.
Mosaic’s stock price
The Mosaic Company (NYSE:MOS) announced that its board of directors has declared a quarterly dividend of $0.275 per share of common stock. This follow the release of the company’s second quarter financial earnings, which showed net earning of $391 million.
The Mosaic Company (NYSE:MOS) announced second quarter 2015 earnings of $391 million, a 57 percent increase compared to the $248 million in Q2 2014.
Mining.com reported that Russia’s PhosAgro (MCX:PHOR) is projecting a jump in India’s demand for fertilizers this year, echoing claims made by US-based rival Mosaic (NYSE:MOS).
The Mosaic Company (NYSE:MOS) announced today that its Board of Directors approved a new share repurchase authorization in the amount of $1.5 billion, allowing Mosaic to repurchase Class A or common shares, through open market purchases, accelerated share repurchase arrangements, privately negotiated transactions or otherwise.