Brazil's Petrobras puts potash mining rights up for sale (updated)

Verde AgriTech

12/08/2022 01:46

(Adds more details, context)
    SAO PAULO, Aug 11 (Reuters) - Brazil's Petrobras  PETR4.SA 
said on Thursday it has begun the process of looking for bidders
for its potassium mining rights in the Amazon basin. 
    The asset is composed of eight mining concessions, four
mining requests already granted and 22 requests for research
which are still pending authorization. 
    Interest in potash mines in Brazil is growing as the mineral
is a key fertilizer and the Ukraine war has highlighted the
country's dependence on imports of the product. Brazil's farm
sector relies on imports for 85% of its fertilizer use. 
    In March, Verde Agritech PLC  NPK.TO  said its board
approved accelerated investment so it can boost output capacity
and become Brazil's largest potash producer.  urn:newsml:reuters.com:*:nL2N2V60MQ 

 (Reporting by Peter Frontini; Editing by Christian Plumb and
Tom Hogue)
 ((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;))