Mosaic Co., a Fortune 500 company based in Plymouth and Minnesota's 14th largest public company, announced Monday that it is moving its headquarters to Florida.

The global fertilizer company mines potash and phosphate and processes those minerals into crop nutrients.

In a news release, Mosaic said it will move its corporate headquarters to Hillsborough County, Fla., to be closer to its phosphate mines in Florida and for long-term cost savings.

It said it did not know yet how many employees would be affected or when the move would happen.

"We will execute this move with as little disruption as possible and with sensitivity to our employees' personal situations," said president and CEO Joc O'Rourke.

Mosaic has about 8,500 employees at all of its locations.

Earlier this month, it reported a 19 percent increase in net sales in the first quarter of 2018.

It said adjusted earnings for the quarter, though, were negatively affected by the late spring planting and other weather-related issues.

Pat Pheifer • 612-673-7252