Itafos Announces Sulfuric Acid Supply Resumption
News Release
ITAFOS ANNOUNCES SULFURIC ACID SUPPLY RESUMPTION
HOUSTON, TX – November 18, 2021 – Itafos Inc. (TSX-V: IFOS) (the “Com pany”) announced today the resumption of
sulfuric acid supply to Conda from Rio Tinto’s Kennecott mine. Following the resumption of sulfuric acid supply, Conda has
returned to full production capacity. Conda’s return to full pr oduction capacity is within the timeframe considered in the
Company’s revised full-year guidance for 2021 issued on November 11, 2021.
The Company previously announced the disruption of sulfuric acid supply to Conda after Rio Tinto announced that it had
declared force majeure on shipments of copper cathode and sulfuric acid from its Kennecott mine after the smelter was
shut down on September 21, 2021 following a release of molten copper materials. Conda purchases approximately 60% of
its annual sulfuric acid requirements from Rio Tinto’s Kennecott mine under a long-term supply agreement.
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 headquartere d 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 jo in the Company’s mailing list to receive notification of future ne ws releases, please visit the
Company’s website at www.itafos.com.
Forward-Looking Information
Certain information contained in this news release constitute s forward-looking information. All information other than
information of historical fact is forwar d-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 forw ard-looking information. This informat ion involves known and unknown risks,
uncertainties and other factors that may ca use actual results or events to differ ma terially 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 thos e 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 in clude, but are not limited to,
those risk factors set out in the Co mpany’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 c autionary statement and is made as of the date of this news
TSX-V: IFOS
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