Mosaic Announces the Completion of Investment in Bayovar Phosphate Project

Mosaic Company (NYSE: MOS) announced the completion of its previously announced investment in a joint venture with subsidiaries of Vale S.A. and Mitsui & Co., Ltd. that owns a phosphate rock mine in the Bayovar region in Peru.

The press release is quoted as saying:

Terms of the investment include a 35 percent economic interest in the joint venture along with a commercial offtake supply agreement for up to 35 percent of the mine’s phosphate rock production. Mosaic paid Vale $385 million for the stake in the joint venture.

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