Archaeological clearance is a key milestone and allows Brazil Potash to begin critical site preparation activities for future shaft sinking
Fauna Rescue and Vegetation Suppression expected to create local job opportunities for communities in Urucurituba Village, Autazes, and the surrounding region
MANAUS, Brazil, Feb. 25, 2025 (GLOBE NEWSWIRE) — Brazil Potash Corp. (“Brazil Potash” or the “Company”) (NYSE-American: GRO), a developer and builder of Brazil’s largest potash fertilizer project, announced today that its subsidiary Potássio do Brasil Ltda. (“Potássio do Brasil”) has received approval to begin Fauna Rescue and Vegetation Suppression activities in the mine area of the Autazes Potash Project (the “Project”). This represents an important milestone in the Project’s installation phase, as it will allow for the subsequent excavation of two deep shafts to access the underground potash mine.
The scope of work was planned and designed by Potássio do Brasil in accordance with the Environmental Licenses issued by the Amazonas State Environmental Protection Agency, IPAAM, which authorizes the Company to perform the Project’s construction activities. These activities will follow a logical schedule to meet all environmental agency requirements while enabling further construction of the Project facilities.
“The contractor for the Fauna Rescue and Vegetation Suppression services has already been selected. We are taking another vital step in developing the Project, ensuring that there will be no interference with the preservation of Amazonian cultural heritage for future generations,” said Adriano Espeschit, president of Potássio do Brasil, the Company’s Brazilian subsidiary. “The Project areas have been the subject of thorough prior studies, as approved in our submissions to IPAAM and IPHAN. Each milestone we achieve brings us closer to providing Brazil with a domestic source of potash fertilizer, which is critical for the country’s agricultural productivity and food security,” added Espeschit.
“We will be creating more direct and indirect job opportunities in Vila de Urucurituba, in Autazes, and the region, with contracted companies prioritizing local labor,” emphasized Raphael Bloise, Project Director at Potássio do Brasil and directly responsible for the work in Autazes.
About Brazil Potash
Brazil Potash (NYSE-American: GRO) (www.brazilpotash.com) is developing Brazil’s largest potash project to supply sustainable fertilizers to one of the world’s largest agricultural exporters. Brazil is critical for global food security as the country has amongst the highest amounts of fresh water, arable land, and an ideal climate for year-round crop growth, but it is vulnerable as it imported over 95% of its potash fertilizer in 2021, despite having what is anticipated to be one of the world’s largest undeveloped potash basins in its own backyard. The potash produced will be transported primarily using low-cost river barges on an inland river system in partnership with Amaggi (www.amaggi.com.br), one of the Brazil’s largest farmers and logistical operators of agricultural products. With an initial planned annual potash production of up to 2.4 million tons per year, Brazil Potash’s management believes it could potentially supply approximately 20% of the current potash demand in Brazil. Management anticipates 100% of Brazil Potash’s production will be sold domestically to reduce Brazil’s reliance on potash imports while concurrently mitigating approximately 1.4 million tons per year of GHG emissions.
Forward-Looking Statements Disclaimer
This press release includes forward-looking statements, which are statements that are not historical facts. Words such as “expects”, “anticipates” “believes” and “intends” or similar expressions are intended to identify forward-looking statements. Such forward-looking statements, including statements relating to vegetation suppression and fauna rescue, the archeological monitoring, rescue program and heritage education for the Autazes Project, the planned construction of the Autazes Project, the benefits of such project and the creation of local jobs are subject to risks and uncertainties, many of which are beyond the control of the Company, including those described in the “Risk Factors” section of the Company’s registration statement on Form F-1, as amended, for the IPO filed with the SEC in connection with the IPO, and the supplemented PREP prospectus filed in each of the provinces and territories of Canada, other than Québec. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, unless required by law.
Contact:
Brazil Potash Investor Relations
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