Potash, Mosaic Settle Suit over Saskatchewan Mine: report

Shutterstock photo

Potash Corp (POT.TO), the world's top fertilizer maker, said it settled a lawsuit with Mosaic Co ( MOS ) over rights to the Esterhazy potash mine in Saskatchewan, Reuters reported.

Under the settlement, Minnesota-based Mosaic will deliver the output owed to Potash Corp for this year and the next, from the mine, it said. On December 31, 2012, Potash Corp will reallocate the production capacity at the mine to Mosaic.

Saskatoon, Saskatchewan-based Potash Corp and Mosaic have been fighting a legal battle over their respective rights and obligations at Mosaic's Esterhazy mine.

Mosaic's counterclaim for damages arising from Potash Corp's declaration of force majeure in April 2009 will also be dismissed as part of the settlement.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Research Brokers before you trade

Want to trade FX?

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com