Attached files
file | filename |
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8-K - FORM 8-K - MOSAIC CO | d8k.htm |
EX-99.1 - PRESS RELEASE - MOSAIC CO | dex991.htm |
EX-99.2 - TRANSCRIPT OF CONFERENCE CALL - MOSAIC CO | dex992.htm |
The Mosaic Company
Jim Prokopanko, President and Chief Executive Officer
Larry Stranghoener, Executive VP and Chief Financial Officer
Rich Mack, Executive VP, General Counsel and Corporate Secretary
Christine Battist, Director, Investor Relations
Hardee County Extension at South Fort
Meade Phosphate Mine
August 2, 2010
Exhibit 99.3 |
This presentation contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements about future financial and
operating results. Such statements are based upon the current beliefs and
expectations of management of The Mosaic Company (the Company)
and are subject to significant risks and uncertainties. These risks and
uncertainties include but are not limited to further developments in the
lawsuit involving the federal wetlands permit for the Hardee County
extension including orders, rulings, injunctions or other actions by the courts or actions by
the plaintiffs, the Army Corps of Engineers or others in relation to the lawsuit;
any actions the Company may identify and implement in an effort to mitigate
the effects of the lawsuit; the predictability and volatility of, and
customer expectations about, agriculture, fertilizer, raw material, energy and
transportation markets that are subject to competitive and other
pressures and economic and credit market conditions; the level of inventories in the
distribution channels for crop nutrients; changes in foreign currency and exchange
rates; international trade risks; changes in government policy; changes in
environmental and other governmental regulation, including greenhouse
gas regulation; other difficulties or delays in receiving, or increased costs of,
necessary governmental permits or approvals; the effectiveness of the
Companys processes for managing its strategic priorities; adverse weather
conditions affecting operations in Central Florida or the Gulf Coast of the United
States, including potential hurricanes or excess rainfall; actual costs of
asset retirement, environmental remediation, reclamation or other
environmental regulation differing from managements current estimates;
accidents and other disruptions involving the Companys operations,
including brine inflows at its Esterhazy, Saskatchewan potash mine and other potential
mine fires, floods, explosions, seismic events or releases of hazardous or volatile
chemicals, as well as other risks and uncertainties reported from time to
time in the Companys reports filed with the Securities and Exchange
Commission.
Safe Harbor Statement
2 |
Summary
Slide 3
Preliminary Injunction
issued
Appeal process is underway
Status of South Fort Meade
mine |
4
South Fort Meade Mine
48 million tonnes
of phosphate ore
in Hardee County
Annual rock capacity of 6 million
tonnes
Mining in Polk County since 1995
Remaining reserves in Polk County
very limited
Overview |
Exhaustive Review Completed
Over a period of seven years, permits were
studied, scrutinized, and approved by:
U.S. Army Corps of Engineers
U.S. Environmental Protection Agency
U.S. Fish and Wildlife Service
Florida Department of Environmental
Protection
Hardee County Local Government
Administrative Law Judge
Affirmed by State Court of Appeals |
6
Conditions to the SFM-HC Permit
The South Fort Meade permit contains considerable environmental protection
and conditions including:
Avoids more than 73% of wetlands
Avoids more than 65% of streams
Avoids more than 70% of all bay systems
Avoidance was increased by Corps hard look
permit review and EPAs
recommendations
Avoidance results in 36% of available ore being left in the ground
Most comprehensive permit ever issued
in the phosphate mining industry |
7
Current state of SFM-HC
Federal wetland example: Ditched natural stream
|
8
Reclaimed wetlands
Reclamation example: Maron Run stream mitigation on Polk County
side of SFM mine |
9
District Court Order
US District Court for the Middle District of Florida issued preliminary injunction
and remanded matter back to the Army Corps
Summary of Order:
The Court determined there was insufficient consideration of alternatives
Notwithstanding this, the court noted Mosaic may be able to demonstrate there are
no practical alternatives
Preliminary injunction in effect until alternatives analysis completed or
the case is decided on the merits
For purposes of the Preliminary Injunction motion, the Court found that an
area-wide EIS is not required prior to issuance of the permit
|
South Fort Meade Mine Update |
11
Next Steps in the Legal Process
Appeal with 11th Circuit Court of Appeals
File motion requesting a Stay of the Preliminary
Injunction
Further review alternatives analysis
Estimate appeal process could be completed in less
than a year, though this subject to considerable
uncertainty |
South Fort Meade Mine Update |
Summary
Slide 13
Continue working with
customers to meet their needs
Preparing appeal to 11th
Circuit Court of Appeals
Updates to come |
Thank you
For years, a phosphate mine at Hardee Lakes helped supply
essential nutrients for crops. Today, the reclaimed land
provides a natural habitat for wildlife and a tranquil
recreation area for Central Florida residents. |