Mosaic Reduces Phosphate Fertilizer Production - Quick Facts

(RTTNews) - Mosaic Co. (MOS) said that it is reducing phosphate fertilizer production, primarily because of high sulfur and ammonia prices. This curtailment will result in lower operating rates at Mosaic's mines and concentrates plants, but is not expected to result in employee layoffs.

The company also announced an update of volume guidance for its third calendar quarter 2014. The Company now expects potash and phosphate sales volumes to be at or near the lower-end of the previously communicated ranges, primarily as a result of weather-driven production outages in potash, and in part driven by timing of shipments in phosphates. Prices are expected to remain near the midpoints of the prior guidance ranges.