ATTORNEYS AT LAW
215 SOUTH MONROE STREET, SUITE 500
TALLAHASSEE, FLORIDA 32301-1866
TEL (904) 224-1585 FAX (904) 222-0398
POST OFFICE DRAWER 190
TALLAHASSEE, FL 32302-0190
January 20, 1997
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TAMPA ORLANDO PENSACOLA TALLAHASSEE WEST PALM BEACH ST. PETERSBURG
Good News for
On October 7, IMC-Agrico announced the
purchase of approximately 24,000 acres of phosphate
reserves in DcSoto and Manatee counties. The land
was acquired from Consolidated Minerals Inc., a
private company headquartered in Leesburg, FL, for
approximately $31 million plus future potential
The purchase is positive news for the future of
our company and significant news for the west
central Florida region. This Q&A will give you
some basic information about the acquisition, what's
happening now, and what will happen in the future.
Q. What will IMC-Agrico do with
A. We plan to mine phosphate and separate the
rock from sand and clay in a washer and flotation
plant that will be constructed on the property. The
site of this facility is undetermined. Beyond this, we
are still in the very early planning phase because this
is such a new project for us. We can tell you we have
no plans to build a chemical manufacturing facility
on this site. That is a certainty.
Q. Where is the property located? Is
it adjacent to any other IMC-A land?
A It's seven miles west of Arcadia. About 17,000
acres are in DeSoto County, with the balance in
Q. How long will it take?
A. Typically it takes five to 10 years to begin
operating a new mine, including permitting, design
and construction. Vice President Lee Thurner
estimates it will be about seven years before mining
can begin. Many factors in the permitting process,
however, can change these projections.
Q. What size operation is planned?
A. Details aren't firm and we don't have any
employment projections, but it is expected that the
operation will have about the same capacity as Four
Q. Will there be anything new or
different about mining these reserves?
A. Yes. Design and operation of the mine and
related facilities will reflect the latest and best
developments in mining, water conservation, land
reclamation and environmental protection. In our
operations systemwide, we are proud to have reduced
our overall groundwater use by 75% since 1990. In
Fact, our largest mine, Four Corners, has used no
groundwater for operations since 1993. We intend
to incorporate what we have learned to minimize the
use of groundwater at the new mine.
Q. Will this be part of any existing
A. No. It is planned for this to be a stand-alone
mining operation that will provide phosphate rock to
the concentrate plants in Polk County.
Q. How will the rock be transported?
A The method for transporting rock to the Polk
County concentrate plants is still undecided. Op-
tions to be considered include, but are not limited to,
rail, conveyors or pipeline.
Q. Why was the decision made to
buy this particular site?
A. This site contains some of the best undevel-
oped phosphate reserves left in Central Florida -
about 100 million tons of high-quality phosphate
rock averaging 67 BPL (Bone Phosphate of Lime).
'The acquisition increases our reserves by 25 percent
and helps strengthen IMC-Agrico's position as a
leading world supplier.
A The green area on the map above indicates
the location of approximately 24,000 acres of
phosphate reserves recently purchased by IMC-
Q. What's happening now in the
There is a tremendous amount of work in the
earliest stages, including preparation for a Develop-
ment of Regional Impact. This is a major study that
determines how a large development will affect a
region's water consumption, traffic and natural
The company is already talking about the future
project with environmental, community and govern-
ment leaders. It is our intent to enlist their involve-
ment in making this the most socially, environmen-
tally and economically successful project possible.
;.ad to' dress everything from financial matters .]
.and land; management issues to public affairs
concerns.',;.. : ,
.'.The team consisted of Tip Fowler, senior VP-
operations; LeeThurner, VP and technical man- -
,agei; Wayne Castles, planning/analysis manager, .
,Chris Damiano, senior financial analyst; Steve F. '
is;,. senior project analyst; Bruno deZaya,'senior
rojecf engieer;'Mike Hutchens- reserves/planning
.supenntendent; Bob Kinsey, engineering manager,;
iSelwyn Presnell, environmental services manager;
,Paddy Rice land resources manager; Ted Smith, ,'.
fhief mmnedevelopment engineer; Vince Snow, .
proct.engngeng manager; Paul Cacioppo, .
n resoures'and public affairs manager; and "
nYoumanpublic affairs manager., .'
RESULT REPORT ...... ...... (JAN 20 '97 10:55AM) .................
CARTON FIELD WARD
JAN 20 10:53AM
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