The Mosaic Company will sell its Carlsbad, New Mexico potash mine and related businesses for $30 million, marking a full exit from potash production in the state as the company sharpens its focus on core assets in Canada.

 

The fertilizer giant said it has signed a definitive agreement to sell Mosaic Potash Carlsbad, Inc to International Minerals Carlsbad, LLC. The deal includes the mine’s operations, assets and liabilities, along with Mosaic’s potash and water business in New Mexico and related intellectual property, including the K-Mag and Dynamate brands.

 

Under the terms of the transaction, Mosaic will receive $20 million in cash at closing, subject to customary adjustments, plus $10 million in deferred payments to be made in three equal annual installments beginning in 2029. International Minerals Carlsbad will also assume responsibility for the asset retirement obligations tied to the Carlsbad operations.

 

Mosaic expects the deal to close in the first half of 2026 and said it will record a non-cash asset impairment in the fourth quarter of 2025.

 

“This transaction is a win for all parties,” said Mosaic Executive Vice President, Operations Karen Swager. 

 

“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. Our potash production is now entirely focused on our operations in Saskatchewan, Canada which are expected to continue to generate strong returns.”

 

For International Minerals Carlsbad, the acquisition represents a long-term bet on a historic mining region.

 

“The acquisition is an exciting business opportunity, and we look forward to building upon the 100+ year legacy of the potash industry in New Mexico,” said CEO Sergio Saenz. Chief Commercial Offer Kelvin Feist added, “Our priority is to ensure a seamless transition of the business for employees, customers, suppliers and all stakeholders.”