16 Mar Brazil Potash Corp suggests doubling output to lower imports reliance
Canadian fertiliser producer Brazil Potash Corp has proposed doubling the output from its potash deposit in Brazil’s Amazon, in a bid to reduce the country’s dependence on imports from the war-impacted region of Eastern Europe.
Brazil Potash chairman Stan Bharti met with Brazilian Agriculture Minister Tereza Cristina Dias in Ottawa on Sunday, discussing the possibility of increasing the production rate at its Autazes project from 2.44 million tonnes to over 5 million tonnes per year.
The increased rate could cover almost half of potash demand in Brazil, which is an agricultural powerhouse but is almost entirely reliant on imports for the fertiliser mineral from the likes of Canada, Russia and Belarus.
Brazil imported around 10 million tonnes of potash last year, but up to 30% of global supply has recently been taken offline by trade sanctions on Russia and Belarus amid the war in Ukraine.
Brazil Potash has been trying to develop the Autazes deposit for more than five years, but the project has been held up by environmental concerns up to now. New production would take at least three years to come on stream once a licence has been approved.
“Our view is that the sanctions placed on Russia and Belarus are not going to be short-lived,” Brazil Potash said in a statement sent to Reuters.