Mosaic closes sale of Carlsbad potash mine to International Minerals for $30M, exits U.S. SOP market

Mosaic has completed the sale of its Carlsbad, New Mexico potash mining subsidiary to International Minerals Carlsbad for $30 million, closing the divestiture in the first half of 2026 and exiting the U.S. sulphate of potash market as the company concentrates all potash production in Saskatchewan, Canada.

The transaction, announced in December 2025, includes an initial cash payment of $20 million and deferred consideration of $10 million payable in three equal annual installments beginning in 2029. International Minerals Carlsbad assumed all asset retirement obligations associated with the mine and acquired Mosaic’s potash and water business in New Mexico, including the K-Mag and Dynamate fertilizer brands and the Laguna Grande evaporation assets.

“We are pleased that International Minerals Carlsbad will provide continuity for our Carlsbad employees at the site, and that Mosaic has taken another step to focus on core assets,” said Karen Swager, Mosaic’s executive vice president of operations. “Our potash production is now entirely focused on our operations in Saskatchewan, Canada, which are expected to continue to generate strong returns.”

International Minerals Carlsbad is led by CEO Sergio Saenz, founder of industrial salt supplier Rush Salt. Chief Operating Officer Don Purvis served as general manager of the Carlsbad facility under Mosaic from 1996 to 2017. The new company plans to double annual potash production at the mine from the current level of approximately 350,000 tonnes to around 700,000 tonnes per year. No layoffs are planned among the facility’s roughly 350 employees.

The Carlsbad mine is one of two potash operations in the region, alongside Intrepid Potash’s facility. Together they represent a small share of North American potash supply, which is dominated by Nutrien and Mosaic’s Canadian operations. Mosaic recorded a non-cash asset impairment in Q4 2025 related to the transaction. Lazard Freres & Co. served as Mosaic’s financial advisor.

Source: World Fertilizer