Railway to freight up to 50Mtpy of Verde’s Product granted construction permit
Singapore. Verde AgriTech Ltd(TSX: “NPK”) (“Verde” or the “Company”) is pleased to announce that the National Land Transport Agency (“ANTT”, fromAgência Nacional de Transportes Terrestres) and the Brazilian Ministry of Infrastructure have authorized Verde to build a railway branch line (the “Railway”) to transport up to 50 million tonnes per year (“Mtpy”) of Verde’s multinutrient potassium products, BAKS® and K Forte®, sold internationally as Super Greensand®, (the “Product”).
The Railway will connect Verde’s production facilities to a railway node part of the Ferrovia Centro Atlântica (“FCA“), effectively linking the municipalities of São Gotardo and Ibiá, both in the state of Minas Gerais. FCA is the largest railroad network in Brazil, interconnecting seven states and the Federal District. The FCA railways are the main freight route between the Southeast, Northeast and Midwest regions in Brazil.[1]
“Verde’s mining sites hold Brazil’s largest identified potash deposit, boasting resources of 3.32 billion tonnes, compliant with the NI 43-101 standard.[2]By connecting our production facilities to the country’s main potash consumption hubs, the Railway will provide farmers with access to a more reliable and increased Product supply. This represents another important milestone in Verde’s dual objectives: reduce Brazil’s dependence on imported potash and expand Verde’s capability to every year capture up to 6.0 million tonnes of carbon dioxide (CO2) every year,[3]thereby making a true contribution to mitigating climate change,” commented Cristiano Veloso, Verde’s founder and CEO.
Verde is awarded easements for the 23Mtpy production scenario of its Pre-Feasibility Study
Singapore. Verde AgriTech Ltd(TSX: “NPK”) (“OTCMKTS: “VNPKF“) (the “Company”) is pleased to announce that the Brazilian National Mining Agency (“ANM”, fromAgência Nacional de Mineração) has issued a set of orders granting Verde multiple easements over lands that will enable the Company to access and build the mines capable of jointly producing up to 23 million tonnes per year (“Mtpy”) of Verde’s multinutrient potassium products, BAKS® and K Forte®, sold internationally as Super Greensand®, (the “Product”) as detailed in its Pre-Feasibility Study (the “PFS”).[1]
An easement grants a right to cross or otherwise use someone else’s land for a specified purpose without the need to own the land. As in most jurisdictions, in Brazil the mineral right is separate from the right to surface land. Verde received multiple favorable decisions from the ANM determining that Verde is entitled to 1,439.25 hectares of easements, sufficient to enable the Company to implement the 23Mtpy scenario of its PFS, which has a subsequent scenario of 50Mtpy.
For further information on the PFS, please see the press release issued on May 16, 2022:https://investor.verde.ag/verde-announces-pre-feasibility-study/
