Potássio do Brasil, which is owned by Brazil Potash, a subsidiary of Canadian investment company Forbes & Manhattan, plans to advance $2.5 billion to its Autazes potash project in Amazonas state, according to Adriano Espeschit, CEO of Potássio do Brasil, in an interview with BNamericas.
The project would have a capacity of 2.2 million mt/y and meet some 20% of Brazil’s need for potash. Espeschit said the project already has its preliminary license and only needs its installation license, which the company believes it will receive this year. Thereafter, construction can begin.
The CEO added that the company signed a binding offtake agreement last year with Brazilian agricultural conglomerate Amaggi Exportação e Importação Ltda. (Amaggi), which agreed to buy 500,000 mt/y of the project’s production for at least 15 years (GM Oct. 30, 2022). He added that this deal aided in the search for financing.