Brazil Potash, which is developing a potash mining project in the Amazon basin of Brazil, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Brazil Potash is a mineral exploration and development company focused on a potash mining project in the state of Amazonas, Brazil. The company is currently in the pre-revenue development stage, working to obtain the necessary permits and licenses to start construction on the project. Once operational, it plans to extract and process potash ore from an underground mine and sell the potash fertilizer domestically within Brazil, aiming to reduce the country's heavy reliance on imported potash. The company believes its strategic location near the Amazon river system and connection to Brazil's national power grid will give it a cost and carbon emissions advantage over international potash suppliers.
The Toronto, Canada-based company was founded in 2006 and plans to list on the NYSE under the symbol GRO. Cantor Fitzgerald, Bradesco BBI, Freedom Capital Markets, and Roth Capital are the joint bookrunners on the deal. No pricing terms were disclosed.
