Brazil Potash signs MOU with Keytrade for potential offtake of up to a million short tons from Autazes
Mark Milam
16-Jan-2025
HOUSTON (ICIS)–Brazil Potash announced it has signed a memorandum of understanding (MOU) between Potassio do Brasil, a subsidiary of the company, and fertilizer trading company Keytrade AG for potential offtake of up to 1 million short tons/year of potash from the Autazes Potash project.
Located in the state of Amazonas with the proposed mine and processing facilities located 75 miles southeast of the state capital Manaus, the estimated $2.5 billion project would become Brazil’s largest potash project.
The company said the initial annual production is projected be 2.4 million short tons yearly and believes it could potentially supply approximately 17% of the potash demand within the country with future plans to double output.
Brazil Potash envisions not only reduce Brazil’s reliance on potash imports but also mitigating approximately 1.4 million short tons/year of emissions.
“This MOU with Keytrade represents another important step towards Brazil Potash’s development and validates our strategic position in Brazil as a potential premier domestic potash supplier,” said Adriano Espeschit, Potassio do Brasil president.
“Combined with our existing offtake agreement with AMAGGI, we have now secured potential commitments for approximately 1.5 million short tons of our planned 2.4 million short tons of annual potash production, providing strong foundational support for project financing.”
The company noted that Brazil is critical for global food security as the country has among the highest amounts of fresh water, arable land and an ideal climate for year-round crop growth.
Yet it is viewed as being vulnerable as it imports over 95% of its potash despite having what is anticipated to be one of the world’s largest undeveloped potash basins.
Currently it is planned that the potash produced will be transported primarily using low-cost river barges through an inland system in partnership with logistical operators Amaggi.
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