Mosaic Company Announces Hurricane Ian’s Impact on its Fertilizer Producer

The Mosaic Company recently announced that North American Phosphates was negatively impacted by damage caused by Hurricane Ian. Significant flooding and high winds were experienced throughout central Florida during the storm, and this caused modest damage to Mosaic Company facilities and supporting infrastructure. Early assessments indicate phosphate production could be down by approximately 200,000-250,000 metric tons, split roughly evenly between the third and fourth quarters of 2022. Repairs are expected to be completed over the next couple of weeks. In addition to production impacts, the timing of shipments was also affected by the storm. Phosphates sales volumes in the third quarter are now expected to total 1.60-1.65 million metric tons, as port and rail closures delayed late third quarter shipments to October. Mosaic plans to provide further updates when it reports third quarter results. The Mosaic company produces fertilizers in West Central Florida, where Hurricane Ian made landfall late last month.

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