The mechanisms of action of mineral phosphate solubilization (MPS) were studied in the wild‐type Mps+Penicillium rugulosum strain IR94‐MF1 and in negative (Mps−) and superpositive (Mps++) mutants derived from it. MPS activities were measured in liquid media using sucrose as C source, four N (arginine, nitrate, nitrate+ammonium and ammonium) and P sources (KH2PO4, hydroxyapatite, FePO4 and AlPO4). Ammonium significantly (P<0.01) decreased phosphate solubilization, and this activity was 1–66 times higher in the Mps++ mutant than in the wild‐type depending on the P and N sources used. The Mps+ phenotype was strongly associated with the production of gluconic or citric acids. The results also suggest for the MPS− mutant the involvement of the H+ pump mechanism in the solubilization of small amounts of phosphates.