Brazil Potash secures offtake agreement with Keytrade

Brazil Potash (NYSE: GRO) announced Thursday a commercial offtake agreement between its subsidiary Potássio do Brasil Ltda. and Keytrade Fertilizantes Brasil, subsidiary of Keytrade AG, one of the world’s leading fertilizer trading companies. The binding agreement establishes a 10-year take-or-pay commitment for Keytrade to purchase up to ~900,000 tons of potash annually from Brazil Potash’s Autazes project, 30% to 37% of Brazil Potash’s annual potash production. Last month, Brazil Potash signed an MOU with private equity firm Fictor Group outlining the terms of a $200 million infrastructure funding for Autazes.  After facing headwinds due to some opposition by Indigenous groups, the state of Amazonas granted Brazil Potash last year the license to build the Autazes project, pegged to be the largest fertilizer mine in Latin America within the Amazon rainforest. “This Agreement with Keytrade is a major milestone in Brazil Potash’s commercial development,” Brazil Potash CEO Matt Simpson said in a news release. “Combined with our existing take-or-pay agreement with Amaggi Exportacão E Importacão Ltda., we now have binding commitments for ~1.45 million tons of our planned ~2.4 million tons of annual production,” Simpson said. “These long-term contracts provide the revenue certainty essential for securing project financing and advancing construction.” “This collaboration with Brazil Potash is a strategic step toward reducing Brazil’s reliance on imports and fostering economic growth in the Amazon region,” Keytrade Fertilizantes Brasil CEO Anthony Jezzi added.  With the Keytrade Agreement finalized, Brazil Potash said it has secured binding offtake agreements covering ~60% of planned production and is also in advanced discussions with a prospective partner that would increase total volumes to ~91% of annual capacity.   Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com