Shares of Mosaic (MOS) - Get Mosaic Company (MOS) Report were falling Friday after the mining company said it will idle its operations in Brazil. 

The stock was falling 1.70% to $26.54 a share in premarket trading. 

The Minnesota-based metals miner, with a $10.41 billion market cap , will halt production in its Tapira and Catalao phosphate mines in Brazil after the company was unable to reach an agreement with Brazil's National Mining Agency to extend operations of three dams. Mosaic has filed a request for an extension of a deadline to present a stability report on the dams.

Mosaic, however, said it "currently has the rock and finished product inventory necessary to meet near-term market requirements." 

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Mosaic has implemented an emergency action plan for mining dams for the BL1 and BR dams in Tapira and the BR dam in Catalao. This is classified as emergency level 1, the least severe of the three levels of emergency. 

The stock has declined 8% this year.