Mosaic reportedly in talks to buy Mexican phosphate firm.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Grupo Fertinal )(Brief article)

Mosaic is in talks to acquire Mexican fertilizer firm Grupo Fertinal according to The Wall Street Journal. Talks have been ongoing for six months, and the deal could be worth up to $1 billion, the report says. Mosaic did not respond to requests for comment.

Grupo Fertinal (Mexico City, Mexico) operates a phosphate rock mine and fertilizer plant at Baja California Sur, Mexico, according to the U.S. Geological Survey (USGS; Washington).

Mosaic recently told investors it planned to extend its phosphate reserves to strengthen its competitive position in the phosphate market. The company is the global leader in the phosphate market with 80 million m.t./year of …