Brazil Potash Year to Date Summary: Company Achieves Milestones, Advancing Strategic Autazes Project Further Towards Construction
Achievements Include Commercial Agreements, World-Class Board Appointments, Construction Progress, and Enhanced Capital Access
Management to Attend Wells Fargo Industrials Conference on June 10, 2025, in Chicago
MANAUS, Brazil, June 02, 2025 (GLOBE NEWSWIRE) -- Brazil Potash Corp. ("Brazil Potash" or the "Company") (NYSE-American: GRO), a mineral exploration and development company with a critical mineral potash mining project, the Autazes Project, provides a summary of significant year-to-date achievements across governance, commercial, operational, and financial initiatives as it progresses toward construction of the strategic Autazes Potash Project. The Company will discuss these accomplishments with investors at the Wells Fargo Industrials Conference on June 10, 2025, in Chicago, Illinois.
"Year to date 2025 has demonstrated exceptional momentum for Brazil Potash as we continue to achieve key milestones to bring this transformative project to production," said Matt Simpson, Chief Executive Officer of Brazil Potash. "From strengthening our board with world-class industry leaders to securing commercial partnerships and advancing construction activities, we've made substantial progress across all fronts. Looking ahead, we're excited about several anticipated milestones including finalizing additional offtake agreements, advancing our power line financing structure, and continuing early works construction. With Brazil importing over 98% of its potash needs, our project represents a potential strategic solution for the country's agricultural security while creating substantial value for our shareholders."
2025 Strategic Milestones Achieved:
Commercial & Government Relations Progress
Signed MOU with Keytrade AG for potential offtake of up to one million tons per year, advancing toward approximately 1.5 million tons of committed production.
Strengthened government relations through strategic meetings with Amazonas State Governor Wilson Lima and the Mura Indigenous Council.
Launched Brazilian Depositary Receipts (BDRs) on B3 Exchange, providing domestic investors direct access to participate in Brazil's fertilizer independence.
Governance & Leadership Enhancement
Appointed Mayo Schmidt as Executive Chairman (January 2025), former Chairman and CEO of Nutrien, the world's largest fertilizer company.
Added Christian Joerg to the Board of Directors, contributing three decades of agricultural commodities and international trade finance experience.
Expanded Advisory Board with Marcelo Lessa, former IFC/World Bank executive with extensive project financing expertise.
Autazes Potash Project Construction & Operational Advancement
Received approval to begin fauna rescue and vegetation suppression activities, enabling subsequent shaft sinking operations.
Completed site preparation work at the future port terminal, a critical infrastructure milestone.
Converted water extraction installation licenses to full operational permits, securing water supply for construction and operations.
Enhanced Capital Access
Established $75 million equity line of credit with Alumni Capital, providing flexible funding for project advancement.
About Brazil Potash
Brazil Potash (NYSE-American: GRO) (www.brazilpotash.com) is developing the Autazes Project to supply sustainable fertilizers to one of the world's largest agricultural exporters. Brazil is critical for global food security as the country has amongst the highest amounts of fresh water, arable land, and an ideal climate for year-round crop growth, but it is vulnerable as it imported over 95% of its potash fertilizer in 2021, despite having what is anticipated to be one of the world's largest undeveloped potash basins in its own backyard. The potash produced will be transported primarily using low-cost river barges on an inland river system in partnership with Amaggi (www.amaggi.com.br), one of Brazil's largest farmers and logistical operators of agricultural products. With an initial planned annual potash production of up to 2.4 million tons per year, Brazil Potash's management believes it could potentially supply approximately 20% of the current potash demand in Brazil. Management anticipates 100% of Brazil Potash's production will be sold domestically to reduce Brazil's reliance on potash imports while concurrently mitigating approximately 1.4 million tons per year of GHG emissions.
Forward-Looking Statements Disclaimer
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking statements" and are based on the reasonable expectations, estimates and projections of the Company as of the date of this press release. The words "plans," "expects," or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "does not anticipate," or "believes," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur" or "be achieved" and similar expressions identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding the advancement of the Autazes Project; the impact of various accomplishments and contracts; construction and operational advancement; government relations progress; trading of BDRs on B3; the status of the Company's project, government regulation and environmental regulation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company disclaims any intention or obligation to update or revise any forward-looking statements, except to the extent required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.
Contact:Brazil Potash Investor Relationsinfo@brazilpotash.comSign in to access your portfolio
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Segment Adjusted EBITDA is defined as Net income (loss), excluding unallocated corporate costs, Depreciation, depletion, accretion and amortization, Loss on impairments, Other non-operating income (expense), net, Interest expense, net, Income tax benefit (expense), Income from equity method investments, and certain other items, such as costs related to acquisitions, certain litigation costs, restructuring costs, charges associated with non-core sites and certain warranty charges related to a pre-acquisition manufacturing issue and transaction costs related to the spin-off. 2 Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenues. 3 Free Cash Flow is defined net cash provided by (used in) operating activities plus proceeds from property and casualty insurance, proceeds from land expropriation and proceeds from disposals of long-lived assets less purchases of property, plant and equipment. 4 Adjusted EBITDA Cash Conversion Ratio is defined as Free Cash Flow divided by Adjusted EBITDA. 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For the years ended December 31, (In millions, except for percentage data) 2024 2023 2022 Net income $1,273 $955 $1,107 Depreciation, depletion, accretion and amortization 889 851 788 Interest expense, net 512 549 248 Income tax expense 368 361 366 EBITDA 3,042 2,716 2,509 Loss on impairments 2 15 57 Other non-operating (income) expense, net(1) 55 36 (9) Income from equity method investments (13) (13) (13) Other(2) 95 90 55 Adjusted EBITDA 3,181 2,844 2,599 Unallocated corporate costs 141 155 112 Total Segment Adjusted EBITDA $3,322 $2,999 $2,711 Building Materials 2,552 2,314 2,049 Building Envelope 770 685 662 Net income margin 11% 8% 10% Adjusted EBITDA Margin 27% 24% 24% (1) Other non-operating (income) expense, net primarily consists of costs related to pension and other postretirement benefit plans and gains on proceeds from property and casualty insurance. 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For the years ended December 31, (In millions, except for percentage data) 2024 2023 2022 Net cash provided by operating activities $2,282 $2,036 $1,988 Capital expenditures, net(1) (549) (581) (436) Free cash flow $1,733 $1,455 $1,552 Net income 1,273 955 1,107 Adjusted EBITDA 3,181 2,844 2,599 Adjusted EBITDA cash conversion ratio 0.54 0.51 0.60 (1) Capital expenditures, net includes purchases of property, plant and equipment, proceeds from property and casualty insurance income, proceeds from land expropriation and proceeds from disposals of long-lived assets. View source version on Contacts Media Relations: media@ Investor Relations: investors@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
