Itafos Provides Update ON Itafos Conda Plant Turnaround, Announces Sulfuric Acid Supply Disruption
ITAFOS PROVIDES UPDATE ON ITAFOS CONDA PLANT TURNAROUND, ANNOUNCES SULFURIC
ACID SUPPLY DISRUPTION
TORONTO, ON – August 20, 2020 – Itafos (TSX-V: IFOS) (the “Company”) provided today an update on
Itafos Conda’s previously announced reduced scope plant turnaro und and announced a disruption in
sulfuric acid supply to Itafos Conda from Rio Tinto’s Kennecott mine.
The Company previously announced its decision to conduct a redu ced scope plant turnaround at Itafos
Conda during July 2020 as part of its risk mitigation measures during the COVID-19 pandemic. The reduced
scope plant turnaround focused on inspection, testing and preventative maintenance of critical equipment.
Itafos Conda completed the reduced scope plant turnaround with no environmental releases or reportable
injuries.
The Company further announced today that Itafos Conda has been experiencing a significant disruption in
sulfuric acid supply from Rio Tinto’s Kennecott mine. Itafos Conda fulfills approximately 40% of its sulfuric
acid requirements from volumes produced internally and approximately 60% from a combination of volumes
received from Rio Tinto’s Kennecott mine under a long-term supply agreement and volumes procured from
other third party producers. On August 18, 2020, Rio Tinto announced that its Kennecott mine in Utah has
experienced delays to the restart of the smelter. According to the announcement, such delays to the restart
of the smelter are due to unexpected issues that appeared following planned maintenance. Rio Tinto further
announced that they are working closely with their customers to limit any disruptions and expect to have
the smelter fully operational in two months.
The Company has been and will continue working to mitigate potential adverse effects of the disruption in
sulfuric acid supply to Itafos Conda from Rio Tinto’s Kennecott mine. In addition, the Company is evaluating
the overall expected impact of such sulfuric acid supply disruption and expects to provide an update on its
guidance for 2020 in parallel with reporting its Q2 2020 financial results and operational highlights.
About Itafos
The Company is a pure play phosphate and specialty fertilizer p latform with an attractive portfolio of
strategic businesses and projects 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 of monoammonium phosphate (“MAP”), MAP with
micronutrients (“MAP+”), superphosphoric acid (“SPA”), merchant grade phosphoric acid (“MGA”)
and ammonium polyphosphate (“APP”) located in Idaho, US;
Itafos Arraias – a vertically integrated phosphate mine and fe rtilizer business with production and
sales capacity of approximatel y 500kt per year of single superp hosphate (“ SSP”), SSP with
micronutrients (“ SSP+”) and approximately 40kt per year of excess sulfuric acid loca ted 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 integrated 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 integrated 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 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 s imilar 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 i n 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 for ward 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 oth er 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 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 a ssumptions 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 undertake s 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 PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) AC CEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information, please contact:
Itafos Investor Relations
www.itafos.com