MOS - Mosaic curtails potash production at Saskatchewan mine

Mosaic ( NYSE: MOS ) said Tuesday it has temporarily curtailed production at its Colonsay potash mine in Saskatchewan, a move the company said "reflects near-term dynamics and not long-term agricultural market fundamentals."

Mosaic said Colonsay had been operating at a run rate of 1.3M metric tons/year with plans to expand annual production to 1.8M-2M tons by late 2023 following the restart of the mine's second mill.

With demand returning slower than expected in H2 2022, Mosaic ( MOS ) said inventory levels are sufficient to meet near-term demand.

Crop prices remain strong and continue to support healthy grower economics, the company said.

Potash and phosphate prices have been rolling over, but "fertilizer companies are dramatically undervalued and seriously worth considering," Michael Wiggins de Oliveira writes in an analysis published on Seeking Alpha .

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