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Updated: 10/31/2013 08:00:04AM

Mosaic to buy CF Industries

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The Mosaic Co. announced plans Monday to acquire CF Industries’ phosphate operations, which company officials say would make Mosaic the only phosphate company operating in central and south Florida.

The sale, which Mosaic expects to be officially approved by the Department of Justice by the summer of 2014, will allow Mosaic to cancel the construction of a $1 billion beneficiation plant in Ona to separate phosphate from soil. Instead, Mosaic will expand the existing CF beneficiation plant in Hardee County. The deal will also likely delay the opening of a mine in DeSoto County, which was slated to open by 2021.

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