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Mosaic issues statement on impact of Hurricane Irma

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World Fertilizer,

Mosaic Co. has released a statement addressing the impact of Hurricane Irma. The company’s team in Central Florida is currently assessing its impact on the company’s people and assets.

The President and CEO of Mosaic, Joc O’Rourke, said: “First and foremost, I am extremely grateful that all of our employees seem to be safe.

“Many of our people are dealing with personal property damage and a loss of power, and the company is working to determine how we can assist in their recovery efforts.

“Given the extraordinary power and scope of this storm, we are pleased that damage at our facilities appears to be limited. Full assessment will take some time, but we are confident that our phosphates business will be able to resume production soon. We are working closely with our supply chain and logistics partners to plan for an expedient resumption of our operations.

“I would like to thank all of our Florida employees for the exceptional work they did to prepare for this storm, and for their diligent efforts as we work to get back up and running.”

In the statement, Mosaic claims that it expects its 3Q17 phosphates production volumes to be affected by damage to facilities, as well as by disruption in the supply chain. The company claims that it will not make any phosphate price offers to domestic or international customers until it has a greater understanding of both product availability and ability to ship product. Mosaic added that it will provide an estimate for lost production once all assessments have been completed.

A warehouse containing finished fertilizer was damaged at the company’s Bartow facility, and the amount of product that has been damaged is currently being assessed. Damage at all other facilities reportedly looks to be minor, based on initial assessments.

The statement concludes by saying that no serious environmental incidents have been reported.

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