Compass Minerals Form SD shows compliance, no conflict-minerals risk

Rhea-AI Filing Summary

Compass Minerals International, Inc. (NYSE: CMP) filed a Form SD for the fiscal year ended September 30 2024 to satisfy Rule 13q-1 requirements regarding payments to governments made in connection with the commercial development of minerals.

The company states that Rule 13p-1 (Conflict Minerals) is not applicable; therefore, no conflict-minerals report or exhibit is provided.

An attached Exhibit 2.01 – Resource Extraction Payment Report (not reproduced in the narrative) contains the actual payment schedules. All amounts were or will be presented in U.S. dollars using exchange rates as of September 30 2024.

Operating structure highlighted in the filing:

• Two reportable segments: Salt (road de-icing, consumer & industrial) and Plant Nutrition (specialty potash fertiliser).
• Eight production-stage mining properties located in the United States, Canada and the United Kingdom, including Cote Blanche (rock salt, LA), Goderich Mine & Plant (ON), Ogden projects (UT) and Winsford (UK).
• Two exploration-stage properties (Wynyard, Saskatchewan and the Atacama Desert, Chile); payment disclosure for these sites is deferred until the FY 2025 Form SD, pursuant to Item 2.01(b)(1).

No quantitative payment figures, earnings metrics or strategy updates appear in the text of the filing. The document therefore represents routine regulatory compliance rather than a material corporate development. Investors seeking precise payment amounts must consult Exhibit 2.01 once filed on EDGAR.

Positive

• Conflict-minerals rules deemed not applicable, removing a potential ESG and supply-chain risk factor.
• Timely compliance with Rule 13q-1 reinforces governance and transparency standards.

Negative

• No quantitative payment data provided in the narrative, requiring investors to obtain Exhibit 2.01 for specifics.
• No strategic or financial metrics were disclosed, offering limited insight into profitability or cash-flow impact of resource operations.

Insights

Financial Analyst

TL;DR: Routine Form SD; confirms no conflict-minerals exposure; neutral financial impact; review Exhibit 2.01 for payment specifics.

This filing is a standard annual disclosure required of resource-extraction issuers. It signals that Compass Minerals remains in compliance with the SEC’s payment-transparency rules and highlights the geographic spread of its mining portfolio. Because the narrative lacks dollar amounts, margin data or operational updates, there is no immediate valuation impact. The absence of conflict-minerals activity slightly improves the company’s ESG profile, yet this was expected. Unless Exhibit 2.01 reveals unusually large or controversial payments, the information is unlikely to alter credit metrics, dividend capacity or equity-market perception. Overall, the document is a neutral housekeeping item.

ESG Compliance Specialist

TL;DR: Filing strengthens transparency posture; no conflict-minerals; moderate ESG relevance but not financially material.

From an ESG standpoint, timely submission under Rule 13q-1 demonstrates procedural adherence and supports CMP’s transparency narrative. Investors focused on responsible sourcing will note the explicit statement that conflict-minerals rules do not apply. However, the lack of granular payment data within the body of the filing limits immediate stakeholder analysis; the exhibit must be consulted to assess governance-quality metrics such as payment concentration by jurisdiction. Because the filing introduces no new sustainability targets, remediation actions or risk factors, I consider the impact on ESG ratings benign-to-neutral.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

Compass Minerals International, Inc.

(Exact name of registrant as specified in its charter)

Delaware			001-31921			36-3972986
(State or other jurisdiction of incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)

9900 West 109th Street

Suite 100

Overland Park, KS 66210

(Address of principal executive offices)

Peter Fjellman

(913) 344-9200

(Name and telephone number, including area code, of the person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:

☐    Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, _____.

☒    Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended September 30, 2024.

Section 1 - Conflict Minerals Disclosure

Item 1.01    Conflict Minerals Disclosure and Report

Not applicable.

Item 1.02    Exhibit

Not applicable.

Section 2 - Resource Extraction Issuer Disclosure

Item 2.01    Resource Extraction Issuer Disclosure and Report

Disclosure of Payments by Resource Extraction Issuers

The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 to this Form SD.

Report on payments to governments for the year ended September 30, 2024

This report provides a consolidated overview of the payments to governments made by Compass Minerals International, Inc. (“CMI,” the parent holding company) and its consolidated subsidiaries for the fiscal year ended September 30, 2024. Unless the context requires otherwise, references in this report to the “Company,” “Compass Minerals,” “CMP,” “we,” “us” and “our” refer to CMI and its consolidated subsidiaries collectively.

All payments are reported in U.S. dollars. Payments that were made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rates as of September 30, 2024.

Our business segments

Our business segments are strategic business units that offer different products and services, and each business requires different technology and marketing strategies. We have two business segments:

•Salt Segment: This segment produces and markets salt, consisting primarily of sodium chloride and magnesium chloride, for use in road deicing for winter roadway safety and for dust control, food processing, water softeners and other consumer, agricultural and industrial applications. As of September 30, 2024, the Salt Segment had eight production stage mining properties located in the United States, Canada and the United Kingdom and one exploration stage mining property located in Chile.

•Plant Nutrition: This segment produces and markets various grades of potash specialty fertilizer (“SOP”). As of September 30, 2024, the Plant Nutrition segment had one production stage mining property in the United States and one exploration stage mining property in Canada.

Our projects

This report discloses the payments made by us to governments for the commercial development of minerals, such as salt, SOP and magnesium chloride, and which involve the exploration, extraction, processing, and export of such minerals, or the acquisition of a license for any such activity.

As of September 30, 2024, we had eight production stage mining properties. Where the type of resource being commercially developed differed within a mining property, we have disclosed payments for the mining property as separate projects segregated by product type.

•Cote Blanche Island: extraction of rock salt, through underground mining, in the state of Louisiana, in the United States. We consider this mining property as one project.

•Lyons: brine well-based extraction of mechanically-evaporated salt in the state of Kansas, in the United States. We consider this mining property as one project.

•Ogden: extraction of SOP, solar salt and magnesium chloride, through pumping of brine from the Great Salt Lake into solar evaporation ponds on the surface, which we identify as well mining for purposes of this Form SD, in the state of Utah, in the United States. The projects for this mining property include:

◦Ogden – SOP: extraction of SOP, through solar evaporation.

◦Ogden – Solar Salt: extraction of solar salt, through solar evaporation.

◦Ogden – Magnesium Chloride: extraction of magnesium chloride, through solar evaporation.

•Amherst: brine well-based extraction of mechanically-evaporated salt in the town of Amherst, in the province of Nova Scotia, in Canada. We consider this mining property as one project.

•Goderich Mine: extraction of rock salt, through underground mining, in the town of Goderich, in the province of Ontario, in Canada. We consider this mining property as one project.

•Goderich Plant: brine well-based extraction of mechanically-evaporated salt in the town of Goderich, in the province of Ontario, in Canada. We consider this mining property as one project.

•Unity: brine well-based extraction of mechanically-evaporated salt in the town of Unity, in the province of Saskatchewan, in Canada. We consider this mining property as one project.

•Winsford: extraction of rock salt, through underground mining, in the town of Winsford, in the county of Cheshire, in the United Kingdom. We consider this mining property as one project.

As of September 30, 2024, we had two exploration stage mining properties in Wynyard, Saskatchewan, Canada and in the Chilean Atacama Desert. Pursuant to Item 2.01(b)(1) of Form SD, we are delaying disclosing payment information related to exploratory activities conducted at these two mining properties until our Form SD submitted for the fiscal year ending September 30, 2025, which is the fiscal year immediately following the fiscal year in which payments were made.

Section 3 - Exhibits

Item 3.01    Exhibits

The following exhibit is filed as part of this report.

Exhibit No.						Exhibit Description
2.01						Resource Extraction Payment Report

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			COMPASS MINERALS INTERNATIONAL, INC.
Date: June 27, 2025			By:			/s/ Peter Fjellman
						Name: Peter Fjellman
						Title: Chief Financial Officer

FAQ

Why did Compass Minerals (CMP) file a Form SD?

To comply with SEC Rule 13q-1, which requires annual disclosure of payments to governments related to the commercial development of minerals.

Does the filing address conflict minerals for CMP?

Yes; the company states that Rule 13p-1 is not applicable, so no conflict-minerals report is required.

Which fiscal period does the CMP Form SD cover?

It covers the fiscal year ended September 30 2024.

Where can investors find the actual payment amounts CMP made to governments?

The detailed figures are contained in Exhibit 2.01 – Resource Extraction Payment Report, filed concurrently with this Form SD.

How many production-stage mining properties does CMP operate?

The filing lists eight production-stage mining properties across the U.S., Canada and the U.K.

When will CMP disclose payments for its exploration-stage properties?

Payment information for Wynyard (Saskatchewan) and the Atacama Desert (Chile) will be disclosed in the FY 2025 Form SD.