Mosaic Gets Consent to Expand Phosphate Mining in Manatee County

United States: The Mosaic Company, a U.S based leading crop nutrients producing company, secures an approval for the augmentation of its potash and phosphate mining business with the consent of Manatee County Commission in Florida, United States. Despite the objection of majority of public voices, the commission sanctioned the request to rezone 3,596 acres of land to continue phosphate mining activities with 5 to 2 votes in favor of this project. The Wingate East Mine of approximately 4,000 acres of land would add to the existing mining operations of the company to great extents.

TechSci Research depicts that this expansion in the ongoing mining activities of the company will lead to surge in the availability of cheaper raw materials for production of fertilizers in the country, thereby, increasing the penetration of the company in the domestic fertilizers market and enlargement of its footprint across the globe.

According to the recently published report by TechSci Research, “Global Water Soluble Fertilizers Market By Type, By Composition, By Grade, By Structure, By Application, By Crop, By Region, By Sales Channel, Competition Forecast and Opportunities, 2011-2021”, the global market for water soluble fertilizers is projected to grow at a CAGR of more than 5% over the next five years, on account of growing demand for food grains, depleting water levels, shrinking availability of arable land, coupled with high efficiency and ease of usage of water soluble fertilizers as compared to conventional chemical fertilizers. In 2015, Europe dominated the global water soluble fertilizers market, followed by North America and Asia-Pacific. The global market for water soluble fertilizers is highly consolidated and dominated by few major players such as Coromandel International Ltd., Yara International, Agrium Inc., and Haifa Chemicals Ltd.