Mosaic Announces Potash Expansion at Esterhazy

MINNETONKA, Minn., April 11 /PRNewswire-FirstCall/ -- The Mosaic Company announced today it is starting work immediately on an expansion of its Esterhazy, Saskatchewan potash facility. The Esterhazy expansion will add approximately 400,000 tons of annual capacity and will be completed in the fall of 2006 with an investment of approximately $28 million. Additional expansions of 1.6 million tons of annual capacity at its Saskatchewan potash facilities are in the engineering phase. These additional expansions will be added as market conditions warrant. The investment by Mosaic, including the projects under evaluation, would increase Mosaic's capacity by 2 million tons and would cost approximately $210 million.

"We are very pleased that the Government of Saskatchewan has revised the resource tax system which enables Mosaic to continue to invest in Saskatchewan. This capital spending is consistent with our growth plan to meet growing global potash demand," said Fritz Corrigan, Mosaic Chief Executive Officer and President.

About the Mosaic Company

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. For the global agriculture industry, Mosaic is a single source of phosphates, potash, nitrogen fertilizers and feed ingredients. More information on the company is available at http://www.mosaicco.com/ .