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Business

Judge Halts Mosaic Mine

by Marc S. Reisch
August 9, 2010 | APPEARED IN VOLUME 88, ISSUE 32

A U.S. district court judge in Florida issued a preliminary injunction forbidding fertilizer maker Mosaic from expanding its South Fort Meade phosphate mine in central Florida. The judge issued the injunction after a complaint from the Sierra Club and two other environmental groups contended that an expansion permit issued by the Army Corps of Engineers didn’t fully take into account potential environmental damage. In a conference call with investors, Mosaic executives said that without the permit they will soon have to cease operations at the site and lay off more than 220 workers, thereby reducing the firm’s annual operating profit by as much as $350 million.

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