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We are also subject to the following legal and environmental proceedings in addition to those described in Note 17 of our Condensed Consolidated Financial Statements in this report:
−Removed: Countervailing Duty Petitions .
−Removed: In 2020, we filed petitions with the U.S.
−Removed: Department of Commerce (“DOC”) and the U.S.
−Removed: International Trade Commission (“ITC”) that requested the initiation of countervailing duty investigations into imports of phosphate fertilizers from Morocco and Russia.
−Removed: The purpose of the petitions was to remedy the distortions that we believe foreign subsidies have caused or are causing in the U.S.
−Removed: market for phosphate fertilizers, and thereby restore fair competition.
−Removed: On February 16, 2021, the DOC made final affirmative determinations that countervailable subsidies were being provided by those governments.
−Removed: On March 11, 2021, the ITC made final affirmative determinations that the U.S.
−Removed: phosphate fertilizer industry is materially injured by reason of subsidized phosphate fertilizer imports from Morocco and Russia.
−Removed: As a result of these determinations, the DOC issued countervailing duty orders on phosphate fertilizer imports from Russia and Morocco, which are scheduled to remain in place for at least five years.
−Removed: Currently, the cash deposit rates for such imports are approximately 20 percent for Moroccan producer OCP, 9 percent and 47 percent for Russian producers PhosAgro and Eurochem, respectively, and 17 percent for all other Russian producers.
−Removed: The final determinations in the DOC and ITC investigations are subject to challenge before U.S.
−Removed: federal courts and the World Trade Organization.
−Removed: Mosaic has initiated actions at the U.S.
−Removed: Court of International Trade contesting certain aspects of the DOC’s final determinations that, we believe, failed to capture the full extent of Moroccan and Russian phosphate fertilizer subsidies.
−Removed: Moroccan and Russian producers have also initiated U.S.
−Removed: Court of International Trade actions, seeking lower cash deposit rates and revocation of the countervailing duty orders.
−Removed: Further, the cash deposit rates and the amount of countervailing duties owed by importers on such imports could change based on the results of the litigation as well as DOC’s annual administrative review proceedings.
+Added: Countervailing Duty Orders .
+Added: Countervailing Duty Orders.
+Added: In April 2021, the U.S.
+Added: Department of Commerce (“DOC”) issued countervailing duty (“CVD”) orders on imports of phosphate fertilizers from Morocco and Russia, in response to petitions filed by Mosaic.
+Added: The purpose of the petitions was to remedy the injury to the U.S.
+Added: phosphate fertilizer industry caused by imports that benefit from unfair foreign subsidies, and thereby restore fair competition.
+Added: CVD orders normally stay in place for at least five years, with possible extensions.
+Added: Moroccan and Russian producers have initiated actions at the U.S.
+Added: Court of International Trade (“CIT”) seeking to overturn the orders.
+Added: Mosaic has also made claims contesting certain aspects of DOC’s final determinations that, we believe, failed to capture the full extent of Moroccan and Russian subsidies.
+Added: These litigation challenges remain underway.
+Added: Most recently, in July and September 2023, the CIT issued three remand rulings – one addressing DOC’s determination in the CVD investigation of phosphate fertilizers from Russia, one addressing DOC’s determination in the CVD investigation of phosphate fertilizers from Morocco, and one addressing the U.S.
+Added: International Trade Commission’s determination in antidumping and countervailing duty investigations of phosphate fertilizers from Russia and Morocco – instructing the agencies to reconsider certain aspects of the rulings that were the basis for issuing the CVD orders.
+Added: When a CVD order is in place, DOC normally conducts annual administrative reviews, which establish a final CVD assessment rate for past imports during a defined period, and a CVD cash deposit rate for future imports.
+Added: In November 2023, DOC announced the final results of the first administrative reviews for the CVD orders on phosphate fertilizers for Russia and Morocco, covering the period November 30, 2020 to December 31, 2021.
+Added: DOC calculated new subsidy rates of 2.12% for Moroccan producer OCP and 28.50% for Russian producer PhosAgro.
+Added: These determinations are subject to appeal to the CIT.
+Added: DOC is also conducting administrative reviews covering the period January 1, 2022 to December 31, 2022.
+Added: The applicable final CVD assessment rates and cash deposit rates for imports of phosphate fertilizer from Morocco and Russia could change as a result of these various proceedings and potential associated appeals, whether in federal courts or at the World Trade Organization.
The South Pasture Extension Mine Litigation.
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(1) secure a waiver and reclamation schedule extension through formal action by the BOCC at a quasi-judicial public hearing;
−Removed: and (2) enter into a settlement agreement that would require payment of a civil penalty by Mosaic for the non-compliance in meeting the required reclamation deadlines of the South Pasture Mine Development Order and the
−Removed: County Mining Ordinance.
+Added: and (2) enter into a settlement agreement that would require payment of a civil penalty by Mosaic for the non-compliance in meeting the required reclamation deadlines of the South Pasture Mine Development Order and the County Mining Ordinance.
The settlement agreement would also be presented and acted upon at a formal public hearing before the BOCC.
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On April 6, 2022, the court heard argument on the motions to dismiss filed by Mosaic and each other co-defendant.
−Removed: In late March 2023, the court denied the defendants' motions to dismiss.
+Added: In late March 2023, the court denied defendants’ motions to dismiss.
We intend to continue to vigorously defend this matter.
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Part 68, commonly known as the Risk Management Plan Rule (“ RMP Rule ”).
−Removed: The NOPVOC relates to a compliance evaluation inspection conducted by EPA at the Faustina Plant from February 22-25, 2022 and alleges violations of the RMP Rule.
+Added: The NOPVOC relates to a compliance evaluation inspection conducted by the EPA at the Faustina plant from February 22-25, 2022 and alleges violations of the RMP Rule.
We conferred with the EPA regarding the allegations in the NOPVOC on November 30, 2022.
We are continuing discussions with the agency regarding settlement, including negotiation of a consent agreement and final order.
−Removed: Important risk factors that apply to us are outlined in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “ 10-K Report ” ).
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.