POTASH MINING – New brine inflow in Esterhazy mine

SASKATCHEWAN - A new saturated brine inflow has been located in the potash mine near Esterhazy, owned by MOSAIC COMPANY of Plymouth, Minnesota. The inflow was found approximately 2,300 m from the existing brine inflow management area, in a mined-out area of the Esterhazy mine.

The company is continuing to evaluate the new inflow but does not currently expect any impact on fiscal 2007 production from Esterhazy's K1 and K2 mines. The cost of addressing the brine inflow will be in the range of $20 million to $40 million by the end of Mosaic's fiscal year, at the end of May 2007.

"We have been successfully managing brine inflow issues at our Esterhazy mines for over two decades," said James T. Prokopanko, president and CEO. "The recent data collected suggests that the new inflow could be at the rate of 20,000 to 25,000 gallons per minute, which is significantly greater than inflows we've previously experienced at Esterhazy and warrants aggressive mitigation efforts. Our mitigation teams have been deployed and, based on prior success in treating other inflows, we are optimistic that the new inflow can be mitigated successfully through pumping, grouting and other measures," Prokopanko added.

The company is posting on its website, www.MosaicCo.com, additional details relating to the new brine inflow and remediation efforts as they become available.