Itafos Provides Update ON Itafos Arraias Repurpose Plan, Announces a Multi-Year Phosphate ROCK Supply Agreement with the Ocp Group
ITAFOS PROVIDES UPDATE ON ITAFOS ARRAIAS REPURPOSE PLAN, ANNOUNCES A
MULTI-YEAR PHOSPHATE ROCK SUPPLY AGREEMENT WITH THE OCP GROUP
TORONTO, ON – June 20, 2019 – Itafos (TSX VENTURE: IFOS) (the “ Company”) today provided
an update to the repurpose plan at Itafos Arraias and announced that it has today signed a multi-year
phosphate rock supply agreement with the OCP Group.
The repurpose plan, which is aim ed at optimizing finished ferti lizer production with a multi-product
portfolio of higher grade SSP, micronutrient SSP and value added premium PK compound products,
is expected to significantly enhance Itafos Arraias’ competitiv e positioning and profitability while
reducing its operational and envi ronmental risk profile. To ena ble the repurpose plan, the Company
intends to procure higher grade phosphate rock from third parti es and, once operational, from Itafos
Farim. Consistent with its stra tegy, the Company has today reac hed agreement to procure higher
grade phosphate rock from the OCP Group.
“Signing a phosphate rock supply agreement with the OCP Group r epresents a key milestone in the
implementation of the repurpose p lan by securing quality phosph ate rock from a leading global
supplier,” said Dr. Mhamed Ibnabdeljalil, CEO of Itafos.
In addition, the Company has been advancing other aspects of the repurpose plan, including activities
related to third party phosphate rock logistics, site preparati on and product portfolio transition. Third
party phosphate rock delivery is in progress, new equipment is being commissioned and approvals
have been received to sell the new products. Also in connection with advancing implementation of the
repurpose plan, the Company has i dled Itafos Arraias’ existing mines, tailings dam and the
beneficiation plant. Notwithstandi ng, Itafos Arraias will maint ain all licenses and permits in good
standing and comply with existing regulations.
About Itafos
Itafos is a vertically integrated phosphate fertilizers and specialty products company with an attractive
portfolio of long-term strategic businesses and projects locate d in key fertilizer markets worldwide.
Itafos is managed by an experienc ed and diverse team with exten sive operations, commercial and
financial expertise. Itafos owns and operates Itafos Conda, a vertically integrated phosphate fertilizer
business with production and sale s capacity of approximately 55 0kt per year of monoammonium
phosphate (“MAP”), superphos phoric acid (“SPA”), merchant grade phosphoric acid (“MGA”) and
specialty products including a mmonium polyphosphate (“APP”) loc ated in Idaho, US and Itafos
Arraias, a phosphate fertilizer business with production and sales capacity of approximately 500kt per
year of single superphosphate (“ SSP”), SSP with micronutrients (“SSP+”) and other products and
approximately 40kt per year of exce ss sulfuric acid located in Tocantins, Brazil. Itafos owns and is
developing Itafos Paris Hills, a high-grade phosphate mine project located in Idaho, US, Itafos Farim,
a high-grade phosphate mine projec t located in Farim, Guinea-Bi ssau, Itafos Santana, a vertically
integrated high-grade phosphate mine and fertilizer plant proje ct located in Pará, Brazil, Itafos
Mantaro, a large phosphate mine project located in Junin, Peru and Itafos Araxá, a vertically integrated
rare earth elements and niobium mine and extraction plant project located in Minas Gerais, Brazil.
For more information or to join our mailing list to receive not ification of future press releases, please
visit the Company’s website, www.itafos.com.
Forward Looking Information
Certain information contained in this news release constitutes forward looking information. All
information other than informati on 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 expre ssions are intended to identify forward
looking information. This info rmation involves known and unknow n risks, uncertainties and other
factors that may cause actual res ults or events to differ mater ially from those anticipated in such
forward looking information. No assurance can be given that thi s 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 materi ally from that anticipated by such forward looking information.
Although the Company has attempt ed to identify important factor s that could cause actual results to
differ materially from those c ontained in forward-looking state ments, 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-lo oking statements include, but are not
limited to, those risk factors set out in the Company’s Management Discussion and Analysis and other
disclosure documents available under the Company’s profile at www.sedar.com. Readers are
cautioned that the foregoing list of risks, uncertainties and a ssumptions are not exhaustive. The
forward looking information in cluded in this news release is ex pressly qualified by this cautionary
statement and is made as of the date of this news release. Itafos undertakes no obligation to publicly
update or revise any forward looking information except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PR OVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANG E) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please contact:
Itafos
Robert Winslow
647-248-5455
www.itafos.com