Brazil's Petrobras puts potash mining rights up for sale
Reuters
Published Aug 11, 2022 07:53PM ET
Updated Aug 11, 2022 08:51PM ET
SAO PAULO (Reuters) -Brazil's Petrobras said on Thursday it has begun the process of looking for bidders for its potassium mining rights in the Amazon (NASDAQ:AMZN) 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 said its board approved accelerated investment so it can boost output capacity and become Brazil's largest potash producer.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.