The Mosaic Company (MOS) Climbs 10% on Rare Earth Expansion

The Mosaic Company (NYSE:MOS) is one of the 10 Stocks Making Huge Moves Today.

Mosaic bounced back by 10.08 percent on Wednesday to finish at $29.15 apiece, as investor sentiment was boosted by its ongoing efforts to ramp up its rare earth mining exposure with the planned development of a new mining site in Minas Gerais, Brazil.

In a statement, The Mosaic Company (NYSE:MOS) said that its subsidiary, Mosaic Fertilizantes P&K Limitada, along with its partner, Rainbow Rare Earths Ltd., has already completed an economic assessment for the mining site which indicated a potential processing of 2.7 million tons per year of phosphogypsum, 1,900 tons of separated neodymium and praseodymium oxide, and 600 tons of a samarium, europium, and gadolinium product rich in medium and heavy rare earth elements.

A mining operation. Photo by Tom Fisk on Pexels

The two parties would conduct a pre-feasibility study, and assuming favorable results, they intend to progress to the conduct of a definitive feasibility study.

Construction of the processing facility is targeted next year, with official production by 2030.

“Brazil is emerging as a strategically important jurisdiction for rare earth development in the Americas. The Uberaba project brings together Mosaic’s Brazilian operations with Rainbow’s rare earth expertise,” The Mosaic Company (NYSE:MOS) President and CEO Bruce Bodine.

“Together, we will evaluate the responsible recovery of critical materials from our existing phosphate operations. This initiative aligns with our strategy to unlock additional value from our existing assets,” he noted.

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