https://newsletter.mw.creamermedia.com
Mining|Power|Products|Operations
Mining|Power|Products|Operations
mining|power|products|operations

Mosaic sells stake in Saudi JV for $1.5bn

Mosaic CEO Bruce Bodine

Mosaic CEO Bruce Bodine

30th April 2024

By: Creamer Media Reporter

     

Font size: - +

US-based fertiliser company Mosaic on Tuesday announced the sale of its stake in a phosphate production venture to Saudi Arabia’s Ma’aden.

Mosaic will receive 111.01-million shares of the Saudi Arabian mining company, valued at about $1.5-billion, for its 25% stake in the Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC).

Comprising a phosphate mine, beneficiation, phosphoric acid, sulphuric acid, power and downstream plants, MWSPC produces about three-million tons of fertiliser products a year.

"We have enjoyed a long and successful partnership with Ma'aden, and we look forward to continuing our work together under this evolved structure," said Mosaic president and CEO Bruce Bodine.

"This transaction provides Mosaic with a transparent value for its investment in Ma'aden, greater capital flexibility in the future, and the ability to contribute expertise to Ma'aden's phosphate operations,” said Bodine.

The agreement generally requires Mosaic to hold its Ma'aden shares for a minimum of three years, with one-third of the shares becoming transferable after the third, fourth and fifth anniversary of the closing.

Edited by Creamer Media Reporter

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Essentra Components
Essentra Components

We are responsible manufacturers of essential components. Manufacturing 80 million parts a week, we have over 1 billion parts in stock.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025
BOLSTERING PRESENCE
The project is set to bolster Namibia’s position as one of the world’s leading uranium producers
Uranium mine moving closer to production
21st February 2025 By: Simone Liedtke

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 0.12s - 128pq - 2rq
Subscribe Now