Brazil Potash (NYSE American: GRO) Converts Its Water Extraction Installation Licenses Into Full Operational Permits at Its Autazes Potash Project Located in the Amazonas State of Brazil
30 12월 2024 - 9:00PM
Brazil Potash Corp. (“Brazil Potash” or the “Company”) (NYSE
American: GRO), a company developing and constructing the largest
potash fertilizer project in Brazil, the Autazes Potash Project
(the “Project”), announces that its wholly owned Brazilian
subsidiary, Potassio do Brasil, has received two water resource
operating licenses ("Outorga de uso de recurso hídrico") from the
Amazon State Environmental Protection Institute (IPAAM) for the
Project. These licenses authorize the Company to operate two deep
water wells that will provide potable water for both construction
and operational phases of the Project and advance the previously
granted Installation Licenses for construction. These wells will
supply sufficient fresh potable water for the processing plant
needs. These permits mark the first phase of operations for the
Project.
The water resource operating permits cover the
Project's comprehensive water supply system, which is strategically
divided between the processing plant area and port facilities
located approximately 8 kilometers away. The deep wells, located
within the plant site boundaries, are designed to meet all drinking
quality (potable) water requirements during the construction phase
and for future operations.
"Securing these water resource operating permits
represents a key advancement in our construction," said Matt
Simpson, Chief Executive Officer of Brazil Potash. "Independent
testing has confirmed both water quality and quantity meet all
regulatory requirements, including sustainable usage parameters.
Having dedicated, high-quality water sources within our project
boundaries enhances our operational planning and demonstrates our
commitment to sustainable resource management."
Mr. Simpson continued, "we continue to advance
the Project, with strong support from all levels of government who
recognize the urgent need to establish domestic potash production
for Brazilian farmers. This license represents another step forward
in our mission to provide Brazilian farming communities with a
secure, domestic source of potash."
About Brazil
Potash
Brazil Potash (NYSE-American: GRO)
(www.brazilpotash.com) is developing Brazil’s largest
potash project that will 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 is vulnerable as it imports over 95% of
its potash fertilizer 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 largest farmers and
logistical operators of agricultural products in Brazil. With
initial planned annual potash production of 2.4 million tons per
year, Brazil Potash will supply ~17% of the growing potash demand
in Brazil with future plans to double output. 100% of Brazil
Potash’s production will be sold domestically to reduce Brazil’s
reliance on potash imports while concurrently mitigating ~1.4
million tons per year of GHG emissions.
Cautionary Note Regarding
Forward-Looking Statements
This press release includes forward-looking
statements, which are statements that are not historical facts.
Words such as “expects”, “anticipates” and “intends” or similar
expressions are intended to identify forward-looking statements.
Such forward-looking statements, including statements relating to
securing two water resource operating licenses, 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 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
Relationsinfo@brazilpotash.com
Brazil Potash (AMEX:GRO)
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Brazil Potash (AMEX:GRO)
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