Wind damage to the Faustina and Uncle Sam facilities from the storm is expected to result in reduced production as repairs are completed over the next 8 to 9 weeks. The following expectations also include estimates of production loss from an August equipment failure at the company's New Wales facility in Florida.
In 3Q21, relative to historical averages, production is expected to be down by approximately 300 000 tonnes. 4Q21 operating rates are expected to improve sequentially, but production may still be down from historical averages. Mosaic plans to provide an update, including estimated financial impacts of the hurricane, when it reports 3Q21 results.
The hurricane also caused navigational issues on the Mississippi River, which could cause congestion during the busy fall application season and create logistical risks for Mosaic's production.
As Mosaic completes repairs to operations, the company is also supporting its employees and communities through a US$100 000 disaster relief grant to the Capital Area United Way and by providing affected employees with access to funds through the company's employee-to-employee assistance plan.
Read the article online at: https://www.worldfertilizer.com/phosphates/03092021/mosaic-co-expects-disruption-to-phosphate-operations-following-hurricane-ida/