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Potash mining concession granted to Verde

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World Fertilizer,

Verde AgriTech has received a mining concession for extraction of up to 2.5 million tpy of potash rich ore, which is processed into Verde’s multinutrient potassium products, BAKS® and K Forte®, sold internationally as Super Greensand®. The company is now fully permitted to produce up to 2 833 000 tpy.

“This mining concession marks one more milestone for Verde. It will supply raw material for our Plant 2, which will boost production and accelerate sales growth. It is also another important governmental stamp of approval for our efforts towards reducing Brazil’s crippling dependency on imported potash”, said Cristiano Veloso, Verde’s Founder and CEO.

On 26 March 2020, the National Mining Agency (ANM), Brazil’s mining regulatory body, approved the Feasibility Study (PAE, from Plano de Aproveitamento Econômico) for the extraction of 25 million tpy for Verde’s Mine Pit 2, as part of the Mining Concession Application (known in Brazil as Requerimento de Lavra). The Feasibility Study details the technical and economic viability of the project and indicates, among other information, the mining method and scale of production.

The mining concession was preceded by an environmental licence assessed and issued at the state level by Minas Gerais’ Environmental and Sustainable Development Secretary (known in Brazil as Secretaria de Estado de Meio Ambiente e Desenvolvimento Sustentável). The company had applied for the 2.5 million tpy environmental licence for Mine Pit 2 on 30 March 2020, and it was approved on 23 December 2020.

The mining concession was granted to the company as an expansion to the existing 100 000 tpy mining permit (in Brazil known as Guia de Utilização), previously granted for Mine Pit 2. In total, the company is now permitted to extract up to 2.6 million tpy from Mine Pit 2 alone.

Under Brazilian law, a pit is fully permitted to mine when the company holds both a mining concession/permit and environmental licence for that area. With this latest mining concession, Verde is now fully permitted to mine 2.833 million tpy and has submitted concurrent mining and environmental applications for an additional 2.5 million tpy, still pending approval.

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