Mosaic Signs MoU With China's Sinochem

(RTTNews) - Mosaic Co. (MOS), a producer of concentrated phosphate and potash crop nutrients, announced late Tuesday that it has entered into a memorandum of understanding or MOU with Sinochem, China's largest agricultural inputs company.

As part of the MOU, Sinochem intends to purchase phosphate rock and phosphate fertilizers, including premium products, from Mosaic. Terms and conditions of the purchases are to be outlined in a separate contract between the two parties.

The company said the MOU establishes a mutually beneficial relationship through which it could contribute to Sinochem's success by providing both expertise and products.

Mosaic President and CEO Joc O'Rourke said, "Sinochem is developing a Modern Agriculture Platform for China, and we at Mosaic look forward to partnering with Sinochem to contribute to this important progress for Chinese farmers."