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Agrimin signs binding offtake agreement with Nitron Group

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World Fertilizer,

Agrimin has signed a binding offtake agreement with Nitron Group for the supply of 115 000 tpy of sulfate of potash (SOP) produced from the Mackay potash project for sale and distribution in Latin America, Mexico, the Caribbean and Africa.

The agreement with Nitron represents approximately 25% of Agrimin’s planned SOP production capacity of 450 000 tpy.

Nitron is a global trader of fertilizers with offices in 15 countries and well-established distribution networks in various markets, including leading market positions in Latin America and Africa. Nitron’s distribution services range from importing, warehousing, blending, packing and logistics.

The agreement with Nitron is Agrimin’s second offtake agreement. In May 2021, Agrimin signed a 10-year binding offtake agreement with Sinochem Fertilizer Macao for the supply of 150 000 tpy of SOP for sale and distribution in China.

Mark Savich, CEO of Agrimin said: “We are very pleased to have reached this significant agreement with Nitron, which is a highly respected offtake partner with dominant market positions in Latin America and Africa. This is our second large tonnage, long-term supply deal and it re-reiteratesthe considerable interest in Agrimin’s low carbon, organic SOP product. We have now committed 60% of our planned SOP production under long-term binding offtakes which meet the tenure requirements for project financing. This is an exciting start to what will be a very active year for Agrimin as we now finalise multiple workstreams and rapidly advance our Tier 1 Mackay Potash Project to a final investment decision.”

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