Mosaic Sells Taquari-Vassouras Potash Mine to VL Mineração
Mosaic Company has completed the divestiture of its Taquari-Vassouras potash mining complex in Rosário do Catete, Sergipe, Brazil, transferring operational control and asset retirement obligations to VL Mineração, a subsidiary of Brazilian agribusiness firm VL Holding. The sale aligns with Mosaic’s strategy to focus on core business areas and reallocate capital. VL Mineração will assume all mining, processing, and site maintenance activities, with plans to enhance production and strengthen its position in Brazil's potassium chloride market.
Under the agreement, Mosaic will receive $27 million in total cash consideration, including $12 million at closing, $10 million after one year, and up to $5 million in contingent payments over six years. VL Mineração has also accepted responsibility for approximately $22 million in asset retirement obligations associated with the mine.
- Transaction value: Up to $27 million in staged payments
- Transfer of $22 million in asset retirement obligations
- Mosaic Company (seller), VL Mineração (buyer), location: Sergipe, Brazil, resource: potash
