Petrobras, a Brazilian company, announced on Thursday that the process of finding bidders for its potassium mining rights in the Amazon basin has started.
The asset consists of eight mining concessions, four mining requests that have previously been approved, and 22 research requests that are still awaiting approval.
Since potash is a crucial fertilizer and the Ukraine crisis has highlighted the nation’s reliance on imports, interest in potash mines in Brazil is rising. 85% of the fertilizer used in Brazilian agriculture is imported.
Verde Agritech PLC announced in March that its board had approved expedited investment in order to increase output capacity and take over as the biggest potash producer in Brazil.