Itafos Announces Launch of New Premium Products at Itafos Arraias
September 24 2019 - 7:18AM
Itafos (TSX VENTURE: IFOS) (the “
Company”)
announced today that it has launched its new line of premium
products following the recent completion of initial production and
sales of premium PK compound products as well as higher grade SSP.
The new premium products are in connection with
the repurpose plan, which is aimed at optimizing Itafos Arraias’
finished fertilizer production with a multi-product portfolio of
higher grade SSP (21% phosphate), micronutrient enhanced SSP (19%
and 21% phosphate) and premium PK compound products. The repurpose
plan is expected to significantly enhance Itafos Arraias’
competitive positioning and profitability while reducing its
operational and environmental risk profile. To enable the repurpose
plan, the Company has been procuring, and expects to continue to
procure, higher grade phosphate rock from third parties.
“Producing premium PK compound products and
higher grade SSP and micronutrient enhanced SSP demonstrates our
ability to repurpose Itafos Arraias to focus on higher netback
products and improve our margin profile,” said Dr. Mhamed
Ibnabdeljalil, interim CEO of Itafos.
About Itafos
The Company is a vertically integrated phosphate
fertilizers and specialty products company with an attractive
portfolio of long-term strategic businesses and projects located in
key fertilizer markets worldwide.
The Company owns, operates and is developing the
following businesses and projects:
- Itafos Conda – a vertically integrated phosphate mine and
fertilizer business with production and sales capacity of
approximately 550kt per year of monoammonium phosphate (“MAP”), MAP
with micronutrients (“MAP+”), superphosphoric acid (“SPA”),
merchant grade phosphoric acid (“MGA”) and specialty products
including ammonium polyphosphate (“APP”) located in Idaho, US;
- Itafos Arraias – a phosphate fertilizer business with
production and sales capacity of approximately 500kt per year of
single superphosphate (“SSP”), SSP with micronutrients (“SSP+”),
premium PK compounds and approximately 40kt per year of excess
sulfuric acid located in Tocantins, Brazil;
- Itafos Paris Hills – a high-grade phosphate mine project
located in Idaho, US;
- Itafos Farim – a high-grade phosphate mine project located in
Farim, Guinea-Bissau;
- Itafos Santana – a vertically integrated high-grade phosphate
mine and fertilizer plant project located in Pará, Brazil;
- Itafos Mantaro – a large phosphate mine project located in
Junin, Peru; and
- Itafos Araxá – a vertically integrated rare earth elements and
niobium mine and extraction plant project located in Minas Gerais,
Brazil.
For more information, or to join the Company’s
mailing list to receive notification of future press releases,
please visit the Company’s website, www.itafos.com.
Forward Looking Information
Certain information contained in this news
release constitutes forward looking information. All information
other than information of historical fact is forward looking
information. The use of any of the words “intend”, “anticipate”,
“plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”,
“should”, “would”, “believe”, “predict” and “potential” and similar
expressions are intended to identify forward looking information.
This information involves known and unknown risks, uncertainties
and other factors that may cause actual results or events to differ
materially from those anticipated in such forward looking
information. No assurance can be given that this information will
prove to be correct and such forward looking information included
in this news release should not be unduly relied upon.
Forward looking information is subject to a
number of risks and other factors that could cause actual results
and events to vary materially from that anticipated by such forward
looking information. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Factors that may cause actual
results to differ materially from expected results described in
forward-looking statements include, but are not limited to, those
risk factors set out in the Company’s Management Discussion and
Analysis and other disclosure documents available under the
Company’s profile at www.sedar.com. Readers are cautioned that the
foregoing list of risks, uncertainties and assumptions are not
exhaustive. The forward-looking information included in this news
release is expressly qualified by this cautionary statement and is
made as of the date of this news release. Itafos undertakes no
obligation to publicly update or revise any forward-looking
information except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please
contact:
Itafos Investor
Relationsinvestor@itafos.comwww.itafos.com
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