Mosaic exits U.S. potash with $30mn sale of New Mexico operation

The Mosaic Company has agreed to sell its Carlsbad, New Mexico potash business to International Minerals Carlsbad for $30 million, marking Mosaic’s exit from U.S. potash production and a further concentration of its operations in Canada.

Under the definitive agreement announced Monday, December 22, Mosaic will sell Mosaic Potash Carlsbad, including the mine, water rights, and related assets and liabilities, for an initial cash payment of $20 million at closing. An additional $10 million will be paid in three equal annual installments beginning in 2029. The buyer will also assume the asset retirement obligations associated with the Carlsbad operations.

The transaction is expected to close in the first half of 2026. Mosaic said it will record a non-cash asset impairment charge related to the sale in the fourth quarter of 2025.

The sale includes Mosaic’s potash and water business in New Mexico as well as intellectual property and product brands such as K-Mag and Dynamate. Following completion, Mosaic’s potash production will be fully concentrated in Saskatchewan, Canada, where the company operates its core potash assets.

“This transaction is a win for all parties,” said Karen Swager, Mosaic’s executive vice president of operations, adding that the sale allows the company to focus on its core assets while providing continuity for employees at the Carlsbad site.

International Minerals Carlsbad plans to continue operating the mine and supplying langbeinite, a chloride-free, multi-nutrient fertilizer sold under the K-Mag brand and used in chloride-sensitive and high-value crops.

The Carlsbad asset has been part of New Mexico’s potash industry for decades. In November 2025, the US Geological Survey added potash to its list of critical minerals, a designation that has increased policy attention on domestic production and permitting.

Lazard Frères & Co. served as financial adviser to Mosaic on the transaction.

Mosaic, based in Tampa, Florida, is one of the world’s largest producers of phosphate and potash fertilizers and has increasingly emphasized portfolio simplification and capital discipline. International Minerals Carlsbad is a privately held company whose principals have long-standing experience in fertilizer production and marketing.