Mosaic closes purchase of 35% stake in Peru phosphate mine

07 July 2010 22:54  [Source: ICIS news]

HOUSTON (ICIS news)--US fertilizer producer Mosaic completed its purchase of a 35% stake in a phosphate mine joint venture in Peru, the company said on Wednesday.

The joint venture includes subsidiaries of Vale and Mitsui & Co.

Mosaic paid Vale $385m (€304m) for the stake, the company said. Under the deal, Mosaic would have the right to purchase 5% of the phosphate rock produced from the mine.

The phosphate rock mine is in the Bayovar region in Peru.

($1 = €0.79)

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By: Al Greenwood
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