Friday, May 14, 2010

Mosaic (NYSE:MOS) Spending $1 Billion on Colonsay Project

Mosaic (NYSE:MOS) executives announced this week that they'll be spending close t $1 billion on their potash-mining operation in Colonsay, Saskatchewan, to be developed in two stages.

Each phase of the development will cost about $500 million said companay officials, and it'll be the largest expansion of the company in 40 years.

The development is projected to start in June, and when in production should position the company strongly for the explosion in demand of potash as world demand grows.

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