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Verde announces conclusion of pre-feasibility study for fertilizer expansion

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World Fertilizer,

Verde AgriTech Plc has announced the conclusion of a pre-feasibility study (PFS) for the expansions to the ongoing Super Greensand® production.

Verde claims that the PFS was prepared by BNA Mining Solutions (BNA) and Andes Mining Services Ltd, with input from technical studies completed by other consultants on Verde's Cerrado Verde Project in Minas Gerais State, Brazil.

The PFS evaluated the technical and financial aspects of producing 25 million tpy of Super Greensand, divided into three phases: phase 1 (0.6 million tpy); phase 2 (5 million tpy); and phase 3 (25 million tpy). The proposed scalable development is predicated on expansions being financed mostly from projected internal cash flow.

Project highlights include the following:

  • Proven and probable reserves of 777.28 million t, grading 9.78% K2O.
  • Capex for phase 1 is estimated at US$3.05 million.
  • Capex for the project is estimated at US$369.53 million.
  • Sustaining capital for the project is estimated at US$222.26 million.
  • Estimated after-tax net present value (NPV) for the project, using a discount rate of 8%, of US$1 987.97 million.
  • Estimated after-tax internal rate of return (IRR) of 290%.
  • Adopted potassium chloride (KCl) long-term price of US$250 CFR Brazil as reference for Super Greensand pricing.
  • Estimated operating cost of US$14.53, US$6.77, US$7.92 per product tonne for phases 1, 2 and 3, respectively.

Alysson Paolinelli, Verde Director, said: “Tropical agriculture requires slow release fertilizers like Super Greensand rather than highly water soluble chemical fertilizers developed for temperate climates with short growing seasons. In Brazil, for example, farmers can have up to three harvests per year and Super Greensand will bring everlasting benefits to the environment as well as food and nutrition security.”

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