Verde Potash flagship project in Brazil gets a shot in the arm
Verde Potash (TSX:NPK) got a shot in the arm Monday as the company announced it has been selected for the next round of Inova Agro, a special financing programme of the Brazilian government aimed at funding agricultural projects.
The mineral exploration and fertilizer development company, founded as Amazon Mining in 2005, said Brazil is likely to help financing the first phase of Cerrado Verde, in the western state of Minas Gerais. This includes building of a rotary kiln flex plant with a capacity of around 1,000 tonnes per day (tpd) for producing ThermoPotash, as well as seeking performance guarantees for a large scale KCl (potassium chloride) kiln.
Verde Potash is also developing a nearby companion limestone project, Calcario.
Last year Brazil set a new record for potash consumption with an intake of 8.1 million tonnes, according to data from the country's national fertilizer association ANDA.
Image courtesy Verde Potash