2011 Annual Report

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  • Home
    • To help the world grow the food it needs that's the mission of The Mosaic Company. We believe in it. It inspires our decisions. But fulfilling that mission and achieving our success doesn't just happen...

  • Letter to Shareholders
    • Over the 30 years of my career in agriculture, the visibility and appreciation for Mosaic's mission has increased dramatically. Agriculture is entering a new green revolution, emerging as one of the global...

  • Financial Highlights
    • To help the world grow the food it needs that's the mission of The Mosaic Company. We believe in it. It inspires our decisions. But fulfilling that mission and achieving our success doesn't just happen...

  • Best Crop Nutrition
    Company
    • Our goal is to be globally known as the best crop nutrition company. Achieving this recognition takes ambition and accountability to the stakeholders...

  • Potash and Phosphate
    • Our core values of sustainability and safety, combined with our portfolio of phosphate and potash, our financial strength and our unparalleled global reach help us to achieve our goal of being recognized as the best...

  • Customers and Suppliers
    • Every day, we strive to deliver what our customers value most integrity, reliability, flexibility and a deep knowledge of what they need to succeed.

  • Operational Excellence
    • Achieving our goals means achieving higher levels of performance, every day.

  • Global Strength
    • Unlocking the opportunities of a global market takes real-time insights the kind you only get from having your own presence in the world's major agricultural...

  • Sustainable Practices
    • True stewardship of our environment and our communities means maximizing the benefits we can obtain today, while developing solutions for...

  • Leadership Teams
    • James T. Prokopanko, James "Joc" O'Rourke, Linda K. Thrasher, Gary "Bo" N. Davis, Richard N. McLellan, Norman B. Beug, Lawrence W. Stranghoener, Richard L. Mack, Cindy C. Redding

  • Financial Review
    • Management's Discussion and Analysis of Financial Condition and Results of Operations, Report of Independent Registered Public Accounting Firm, Consolidated Statements of Earnings...

Mosaic will continue to benefit from a very promising long-term outlook for crop nutrient markets. Farmers will need to plant a record amount of acreage and generate ever-improving crop yields to meet projected global demand for agricultural commodities over the next decade. Near-term, grain and oilseed inventories continue to remain low relative to demand, signifying continued strong farmer economics and crop nutrient demand.

Rising incomes among a burgeoning middle class in growth regions around the world are accelerating the demand for higher-protein diets more meat and dairy and the grain inputs required to produce them. Nearly all of the increase in global grain and oilseed use over the past 20 years is attributable to the combined factors of global population growth and increasing per capita income levels. These dynamics make Mosaic's products and agricultural expertise increasingly crucial, and we are well positioned for continued growth and success in the years ahead.

The opportunity for Mosaic is clear and compelling, and so is our approach to capitalizing on it. Below is a list of our key initiatives for fiscal 2012:

  • We will continue to drive our Potash expansion efforts. We have targeted almost $900 million in planned capital spending for Potash expansions in 2012. We expect approximately 6.2 million additional tonnes to come on line by the end of 2021, including reversion of the tolling agreement. Through these investments, we expect to maintain our top three ranking in global potash production.
  • We will continue to drive operational efficiencies across and deeper into our organization, enhancing cash flow and maximizing our competitiveness. Our position as a low-cost producer of phosphate is indisputable, and we are committed to maintaining our leadership position.
  • We are investing in a number of initiatives to improve performance in workplace safety, employee engagement, and customer satisfaction and loyalty, metrics we use to gauge our operational performance.
  • We are investing to maintain our leadership in premium products, a position that we've established over years of development and testing and a clear differentiator for Mosaic. We plan to expand our production capacity of MicroEssentials® by 59 percent in fiscal 2012 while at the same time continuing to invest in research and development for the next generation of premium products.
  • We will continue to act on our commitment to sustainability and community stewardship. We recognize the responsibility we have to make a positive impact on the world around us. Our commitment is evident every day through our community investments, land reclamation efforts, water and energy-use management, and numerous other initiatives.
Mosaic's mission is to help the world grow the food it needs, and it guides everything we do. Accomplishing it starts with the contributions of each Mosaic employee. I am proud to be part of an organization that is driven by 7,700 talented and devoted employees, and I thank them for their efforts and dedication. I also extend my gratitude to our customers, partners, Board of Directors and, of course, our valued shareholders as we begin our future as a fully independent public company. I firmly believe that today we are successfully building the foundation for sustained long-term shareholder value creation.

Together, our success starts here.


James T. Prokopanko
President and Chief Executive Officer
August 2011