The Mosaic Co. said June 18 that it will close its idled Plant City phosphates manufacturing facility in Hillsborough County, Fla. The plant was idled in late 2017 because it was one of the higher cost phosphates facilities in Mosaic’s Florida Operations and due to global phosphate market conditions. “Our decision to close the Plant City phosphate facility reaffirms our commitment to low-cost operation,” said Mosaic President and CEO Joc O’Rourke. During the second quarter, Mosaic expects to recognize a notable non-cash charge of up to $390 million for the permanent closure of the facility, including asset write-offs and an increase of the asset retirement obligation liability.
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