Mosaic to Continue to Supply Potash to PotashCorp Until Trial Begins
Thursday June 30, 2011, 7:06 pm EDT
PLYMOUTH, Minn., June 30, 2011 /PRNewswire/ -- The Mosaic Company today announced that the Saskatchewan Court of Queen's Bench has ordered Mosaic to continue to supply potash from its mine at Esterhazy, Saskatchewan, to Potash Corporation of Saskatchewan Inc. ("PCS") until trial begins, currently scheduled for January 2012. The court's ruling did not address the merits of any claims in the pending lawsuit between PCS and Mosaic.
Mosaic has provided PCS with potash from Esterhazy, at cost, for approximately 40 years under a tolling agreement. Mosaic notified PCS that, as of May 2011, Mosaic had satisfied its obligation to provide potash to PCS under the agreement. PCS disputes Mosaic's determination as to when Mosaic's obligation to provide potash to PCS from the Esterhazy mine expires.
Mosaic believes that PCS's claims in the lawsuit are without merit and intends to defend vigorously against them.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry.
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