Compass Minerals Evaporation Plant

Chamber Rating
-
John D
May 14th, 2023 -
AMIT KUMAR GOND
Sep 29th, 2022 -
Al gie Cabintoy
Sep 18th, 2022 -
Deep Bhullar
Aug 19th, 2022 -
Sahil Mokal
Jun 13th, 2022
Contact Info
- 519-524-8351
Questions & Answers
Q What is the phone number for Compass Minerals Evaporation Plant?
A The phone number for Compass Minerals Evaporation Plant is: 519-524-8351.
Q Where is Compass Minerals Evaporation Plant located?
A Compass Minerals Evaporation Plant is located at 245 Regent St, Goderich, ON N7A 3Y5
Q What is the internet address for Compass Minerals Evaporation Plant?
A The website (URL) for Compass Minerals Evaporation Plant is: http://www.compassminerals.com/who-we-are/locations/goderich-ontario/
Q How is Compass Minerals Evaporation Plant rated?
A Compass Minerals Evaporation Plant has a 3.8 Star Rating from 10 reviewers.
Ratings and Reviews
Compass Minerals Evaporation Plant
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Overall Rating
( 10 Reviews )
John D on Google
SEC Charges Compass Minerals for Misleading Investors about Its Operations at Worlds Largest Underground Salt Mine
Company also Charged for Disclosure Control Failures Involving Mercury Contamination in Brazil
FOR IMMEDIATE RELEASE
2022-171
Washington D.C., Sept. 23, 2022
The Securities and Exchange Commission today announced settled charges against Compass Minerals International Inc. for misleading investors about a technology upgrade that the company claimed would reduce costs at its most significant mine, but in reality, had increased costs, and for failing to properly assess whether to disclose the financial risks created by the companys excessive discharge of mercury in Brazil. Compass is ordered to pay $12 million to settle the charges.
According to the SECs order, Compass repeatedly assured investors in 2017 that a technology upgrade at its Goderich mine the worlds largest underground salt mine which is located near Ontario, Canada and hailed by the company as its crown jewel was on track to materially reduce costs and boost its operating results starting in 2018. Compasss statements were misleading because they failed to tell investors that costs at the mine were increasing rather than decreasing, which substantially undermined the projected savings. The SEC also found that Compass misled investors by overstating the amount of salt it was able to produce at Goderich.
Separately, the order finds that Compasss deficient disclosure controls resulted in the company failing to properly assess the financial risks of mercury contamination by one of its former facilities near the Botafogo River, in Pernambuco, Brazil, and that facilitys cover-up of the misconduct by submitting inaccurate test reports to Brazilian environmental authorities. Compass was required to assess whether it must disclose the financial uncertainties of that misconduct to investors, but failed to do so.
What companies say to investors must be consistent with what they know. Yet Compass repeatedly made public statements that did not jibe with the facts onor underthe ground at Goderich, said Melissa Hodgman, Associate Director of the Division of Enforcement. By misleading investors about mining costs in Canada and failing to analyze the potential financial consequences of its environmental contamination in Brazil, Compass fell far short of what the federal securities laws require.

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Mine Near Me in Goderich, ON
Sifto Salt TruckParking
Goderich, ON N7A 2X6
(519) 524-8351 ( 0 Reviews )