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Brazil Potash (NYSE: GRO) has continued to push forward with the development of its flagship Autazes potash project in Brazil. The company this morning indicated it has signed a vegetation management contract with an Autazes-based company.
The contract covers what is referred to as critical ground preparation activities as well as materials and transportation management for site preparation as the project continues to be pushed towards construction. The contract is currently scheduled to be completed through a number of service orders that will focus on the numerous efforts required to advance the project further.
Initial work under the agreement is to focus on vegetation management of the mine, road, port, and processing plant areas.
GRS Ambiental e Logística, the company awarded the contract, is said to have a technical team with extensive experience in environmental activities, land preparation, vegetation management, equipment rental and sanitation. “We’re particularly pleased to engage a local contractor with a commitment to hire from within the community. The 22-person team will prioritize local labor, creating important economic opportunities for residents of Autazes and surrounding areas,” commented Adriano Espeschit, President of Potássio do Brasil, on the signing of the agreement with GRS.
Brazil Potash’s Autazes potash project, once operational, is expected to have a 23 year mine life, producing 2.4 million short tons of potash a year at one of the lowest costs in the country. The final product is expected to be sold locally, with Brazil accounting for 22% of global demand for potash, while producing less than 1% of the global supply.
Brazil Potash last traded at $3.10 on the NYSE.
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