BOWLING GREEN, Fla. (AP) ? A settlement between the Mosaic Co. and environmental groups may allow full capacity to resume at a Florida mine that accounts for nearly a fifth of the country's phosphate rock production.
The Plymouth, Minn.-based company said Tuesday that with court approval of the settlement, Mosaic could resume full production at its South Fort Meade Mine near Bowling Green, Fla.
The mine has been working at a reduced capacity since 2010 because of a lawsuit over the site's federal wetlands permit.
Under the settlement, Mosaic will donate a nearly 4,200-acre ranch for permanent conservation and must preserve about 130 acres of land eligible to be mined by the company.
Citi analyst P.J. Juvekar says full production could add up to $0.30 of earnings per share yearly for the company.
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