Itafos Provides Update ON Itafos Conda Operations During COVID-19 Pandemic and Plant Turnaround
ITAFOS PROVIDES UPDATE ON ITAFOS CONDA OPERATIONS DURING COVID-19
PANDEMIC AND PLANT TURNAROUND
TORONTO, ON – July 10, 2020 – Itafos (TSX-V: IFOS) (the “Company”) provided today an update
regarding Itafos Conda’s operations during the COVID-19 pandemic and plant turnaround plans for
2020.
Itafos Conda has been deemed an essential business as part of the fertilizer and agriculture sector
and therefore has not been forced to shut down operations on account of the COVID-19 pandemic.
In response to the COVID-19 pandemic, the Company has implemented risk mitigation measures
at Itafos Conda to address potential impacts to its employees, contractors and operations. To date,
there have been no confirmed case s of COVID-19 amongst employee s and one confirmed case
amongst contractors at Itafos Conda. The confirmed contractor case of COVID-19 was an isolated
incident and the contractor is quarantined offsite.
As a part of its risk mitigation measures during the COVID-19 pandemic, the Company has decided
to conduct a reduced scope plant turnaround at Itafos Conda during 2020. The reduced scope plant
turnaround would primarily rely upon Itafos Conda’s employees a nd local contractors whereas a
full scope plant turnaround would necessitate bringing to site hundreds of contractors and
specialists, many of whom originate from areas of the US that h ave been experiencing significant
spikes in confirmed cases of COVID-19.
“Our team at Itafos Conda continues to demonstrate a safety-fir st approach to operational
excellence. Our risk mitigation measures, including the reduced scope plant turnaround, are
intended to ensure that Itafos Conda can continue to safely del iver quality phosphate products to
our customers while doing our part to minimize the spread of COVID-19,” said Tim Vedder, General
Manager of Itafos Conda.
Itafos Conda is expecting to temporarily shut down its operations for approximately 10 days during
July 2020 in order to complete the reduced scope plant turnarou nd. The reduced scope plant
turnaround will be focused on inspection, testing and preventat ive maintenance of critical
equipment. Itafos Conda expects to complete the remaining scope of activities associated with a
full scope turnaround, including cleaning the phosphate rock reactor, during 2021.
About Itafos
The Company is a pure play phosphate and specialty fertilizer p latform with an attractive portfolio
of strategic businesses and proje cts located in key fertilizer markets, including North America,
South America and Africa.
The Company’s businesses and projects are as follows:
Itafos Conda – a vertically integrated phosphate mine and fert ilizer business with
production and sales capacity of approximately 550kt per year o f monoammonium
phosphate (“MAP”), MAP with micronutrients (“MAP+”), superphosp horic acid (“SPA”),
merchant grade phosphoric acid (“MGA”) and ammonium polyphospha te (“APP”) located
in Idaho, US;
Itafos Arraias – a vertically integrated phosphate mine and fe rtilizer business with
production and sales capacity of approximately 500kt per year o f single superphosphate
(“SSP”), SSP with micronutrients (“ SSP+”) and approximately 40kt per year of excess
sulfuric acid located in Tocantins, Brazil;
Itafos Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
Itafos Paris Hills – a high-grade phosphate mine project locat ed in Idaho, US;
Itafos Santana – a vertically i ntegrated high-grade phosphate mine and fertilizer plant
project located in Pará, Brazil;
Itafos Mantaro – a phosphate m ine project located in Junin, Peru; and
Itafos Araxá – a vertically i ntegrated rare earth elements and niobium mine and extraction
plant project located in Minas Gerais, Brazil.
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
Certain information contained in this news release constitutes 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”, “estim ate”, “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 n ews 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 attempted to identify important factor s 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 inten ded. 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 Compa ny’s Management 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 p ublicly update or revise any
forward-looking information except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANG E) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information, please contact:
Itafos Investor Relations
www.itafos.com