When Mosaic’s purchase of Vale Fertilizantes is finalized, we will acquire Vale’s 45 percent ownership of the Miski Mayo phosphate mining company in Peru. Combined with the 30 percent ownership we already have – this will make Mosaic majority owner and operating partner of the joint venture. The Japanese company, Mitsui, will maintain 25 percent ownership.
Mosaic’s annual share of the Peruvian rock will increase from 1.4 million metric tonnes to almost 3 million metric tonnes – much of which we expect to continue sending to our Louisiana operations.
“The additional rock from Peru will give us increased flexibility in our mining strategy, helping us drive even greater value for our employees, investors and communities,” said Mike Williams, Mine Strategy Advisor. “I’ve been involved in the Miski Mayo joint venture since Mosaic became a minority owner in 2010, so I’ve been able to watch it grow. I’m really proud of what they’ve accomplished, and I’m excited about the opportunities that lie ahead for their team and ours as we work more closely together and learn from each other.”
About Miski Mayo
Miski Mayo is located in the Sechura desert in Piura, Peru – on the northern coast. It is an open pit mine with a probable reserve base of 247 million ore tonnes (or approximately 100 million concentrate tonnes).
Mosaic has been processing rock from Miski Mayo since 2010. The rock travels from Miski Mayo via ship through the Panama Canal to our Uncle Sam, Louisiana, facility.