Itafos Announces Draft Environmental Impact Statement FOR Conda MINE Life Extension
News Release
ITAFOS ANNOUNCES DRAFT ENVIRONMENTAL IMPACT STATEMENT FOR CONDA MINE LIFE EXTENSION
HOUSTON, TX – October 25, 2021 – Itafos Inc. (TSX-V: IFOS) (the “Company”) announced today a significant milestone
on Conda’s mine life extension with the publication of the Draft Environmental Impact Statement (“Draft EIS”) for the
Husky 1/North Dry Ridge (“H1/NDR”) mine development project. The Company previously defined H1/NDR as the path
forward for Conda’s mine life extension following completion of the independent technical report encompassing Conda
and Paris Hills deposits during 2019.
“The publication of the Draft EIS is an important step in executing on our key objective of extending Conda’s mine life
through permitting and developing H1/NDR. Conda has a more than 30-year track record of safe and reliable operations
and we look forward to continuing to serve our customers for many years to come,” said Tim Vedder, General Manager of
Conda.
The Draft EIS was prepared under the National Environmental Policy Act (“NEPA”) by the U.S. Department of the Interior
Bureau of Land Management and the U.S. Department of Agriculture Forest Service. The NEPA process is designed to
help public officials complete permitting decisions that are protective of the environment and includes a public
engagement process. The Draft EIS was published on the Federal Register on October 22, 2021, which initiated a public
comment period through December 6, 2021. The Draft EIS is available on the Federal Register at
https://www.federalregister.gov/documents/2021/10/22/2021-23027/notice-of-availability-of-draft-environmental-impact-
statement-for-the-proposed-husky-1-north-dry.
On October 30, 2019, the Company announced the results of the independent technical report encompassing Conda and
Paris Hills deposits and defined H1/NDR as the Company’s path forward for mine life extension. The independent
technical report was compiled by Golder Associates Ltd. and titled “NI 43-101 Technical Report on the Itafos Conda and
Itafos Paris Hills Mineral Projects, Idaho, USA” (the “Conda Technical Report”). On December 16, 2019, the Company
announced the conversion of Mineral Resources to Mineral Reserves related to Conda’s existing mines, which are
expected to extend Conda’s mine life through mid-2026. The Conda Technical Report is available under the Company’s
profile on SEDAR at www.sedar.com and on the Company’s website at www.itafos.com.
About Itafos
The Company is a phosphate and specialty fertilizer company. The Company’s businesses and projects are as follows:
Conda – a vertically integrated phos phate fertilizer business with produc tion capacity of approximately 550kt per
year of monoammonium phosphate (“MAP ”), MAP with micronutrients (“MAP+”), superphosphoric acid (“SPA”),
merchant grade phosphoric acid (“MGA”) and ammonium polyphosphate (“APP”) located in Idaho, US;
Arraias – a vertically inte grated phosphate fertilizer busi ness with production capac ity of approximately 500kt per
year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”) and approximately 40kt per year of excess
sulfuric acid (220kt per year gross sulfuric acid production capacity) located in Tocantins, Brazil;
Farim – a high-grade phosphate mine proj ect located in Farim, Guinea-Bissau;
Santana – a vertically integrated high -grade phosphate mine and fertilizer plant project located in Pará, Brazil;
Araxá – a vertically integrated rare earth elements and niobium mine and extraction plant project located in Minas
Gerais, Brazil;
Paris Hills – a phosphate mine project located in Idaho, US (wind down in process); and
Mantaro – a phosphate mine project located in Junin, Peru (wind down in process).
The Company is a Delaware corporation that is headquartered in Houston, TX. The Company’s shares trade on the TSX
Venture Exchange (“TSX-V”) under the ticker symbol “IFOS”. The Company’s principal shareholder is CL Fertilizers
Holding LLC (“CLF”). CLF is an affiliate of Castlelake, L.P., a global private investment firm.
For more information, or to join the Company’s mailing list to receive notification of future news releases, please visit the
Company’s website at www.itafos.com.
Forward-Looking Information
TSX-V: IFOS
Certain information contained in this news release constitutes forward-looking information. All information other than
information of historical fact is forward-looking information. The use of any of the words “intend”, “anticipate”, “plan”,
“continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “would”, “believe”, “predict” and “potential” and similar
expressions are intended to identify forward-looking information. This information involves known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such
forward-looking information. No assurance can be given that this information will prove to be correct and such forward-
looking information included in this news release should not be unduly relied upon.
Forward-looking information is subject to a number of risks and other factors that could cause actual results and events to
vary materially from that anticipated by such forward-looking information. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause
actual results to differ materially from expected results described in forward-looking statements include, but are not limited
to, those risk factors set out in the Company’s management’s discussion and analysis and other disclosure documents
available under the Company’s profile at www.sedar.com and on the Company’s website at www.itafos.com. Readers are
cautioned that the foregoing list of risks, uncertainties and assumptions are not exhaustive. The forward-looking
information included in this news release is expressly qualified by this cautionary statement and is made as of the date of
this news release. The Company undertakes no obligation to publicly update or revise any forward-looking information
except as required by applicable securities laws.
NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
RELEASE.
For further information, please contact:
Itafos Investor Relations
www.itafos.com