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Updated: 06/23/2014 04:15:25PM

Mosaic buys phosphate company

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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 in the summer of 2014, will allow Mosaic to cancel the construction of a Hardee County beneficiation facility, where phosphate would be mechanically separated from soil, and delay the opening of a mine in DeSoto County, which was slated to open by 2021.

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