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Verde Potash gets ThermoPotash certified globally

25th November 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – Brazil-focused potash project developer Verde Potash on Monday announced that IBD Certifications, the largest certifier in Latin America and the only Brazilian certifier of organic products with global credentials, had approved its ThermoPotash product for use on organic crops.

Traditional potash, or potassium chloride (KCl), is not certified for use on organic crops and is, therefore, not an option for organic farmers.

TSX-listed Verde’s ThermoPotash is a controlled release, non-chloride multi-nutrient potash fertiliser that had been developed by Verde, and which the company aims to produce in the first phase of its Cerrado Verde potash project, in Minas Gerais, Brazil.

The company said it was aiming at selling ThermoPotash to the local Brazilian organic crops market, which was selling its produce at a premium price. This spurred organic farmers to devote significant resources to accredited crop inputs that drive higher yields.

The market for Brazilian organic products in 2012 was valued at about $385-million, according to Instituto de Promocao do Desenvolvimento (IPD). IPD predicted sales growth for this market of 20% to 25% a year over the next five years, with 2014 sales of $440-million. Brazil’s main organic crops included sugar, palm oil, fruits and juices.

"We are very pleased to have secured this important recognition from IBD Certifications. It will allow us to offer ThermoPotash to the growing number of organic crop producers in Brazil. Organic farms produce a premium product, and are therefore willing and able to pay some of the highest prices for crop inputs. Verde's ThermoPotash will offer organic farmers an attractive value proposition from a local Brazilian supplier,” Verde president and CEO Cristiano Veloso said in a statement.

ThermoPotash is suitable for crops that are sensitive to chloride damage, such as coffee, potatoes, tobacco and pineapple. It is an alternative to fertilisers such as potassium sulphate and potassium nitrate preferred for crops where conventional muriate of potash, or KCl, could lead to damage owing to chloride sensitivity.

Further, owing to its high limestone content, ThermoPotash would be ideal for use on Brazil’s highly acidic soils.

IBD Certifications is accredited by the International Federation of Organic Agriculture Movements (international market), ISO Guide 65 (European market, rule CE 834/2007), Demeter International (international market), the United States Department of Agriculture's National Organic Programme (North American market) and INMETRO/MAPA (Brazilian market), making its certificate accepted globally.

Phase 2 of the Cerrado Verde project, developed in parallel with Phase 1, would focus on large-scale KCl production.

Brazil is the world’s third-largest agricultural exporter. Potash is a critical fertiliser for agriculture, yet Brazil currently has to import about 90% of its potash from distant locations such as Saskatchewan and Belarus.

Brazil was the largest importer of potash globally in 2012 at 7.5-million tonnes of KCl. Potash consumption in Brazil has posted a ten-year compound annual growth rate of 4.7%, much stronger than potash consumption globally at 2.3%. Vale currently operates the only potash mine in Brazil, which met only 7% of the country’s needs and is expected to be depleted in 2016.

The Brazil government had stated its goal for the country to become ‘fertiliser independent’ by 2020. To meet Brazil’s growing demand for a domestic potash supply, Verde is developing the Cerrado Verde project, which is situated in the heart of ‘The Cerrado’, Brazil’s largest agricultural region.

The project is unique owing to its high-grade potash rock outcrops and is amenable to strip mining, allowing for fast construction of a scalable operation. It is located in the midst of the world's third-largest and fastest growing fertiliser market.

It connects to Brazil's largest fertiliser distribution districts through existing and high-quality infrastructure.

Edited by Creamer Media Reporter

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