NYSE-listed Mosaic on Thursday announced that it would idle production at its Tapira and Catalão phosphate mines, in Brazil, to comply with new regulations governing mine tailings dams.
The company stressed that its mines did not present an imminent risk, but that it had to implement the emergency action plan for the BL1 and BR dams, in Tapira, and the BR dam, in Catalão, as it had not received a requested extension for complying with legislation.
Mosaic has applied for an extension of the deadline to submit the stability condition statements (DCE) to allow consultants to finalise additional recommended studies and geotechnical analysis. These studies will be completed in April.
“Mosaic Fertilizantes will make every effort to obtain the DCEs as quickly as possible. Geotechnical research, analysis with external consultants and remediation plans will continue until the dams meet the new standards,” the miner said in a statement.
The company added that it had the rock and finished product inventory necessary to meet near-term market requirements. During this period, Mosaic would also ship phosphates from its operations in Florida and rock from its Peruvian mine for use in Brazilian production to meet customer needs in Brazil.