Itafos Provides Update ON Itafos Farim Engineering and Construction, Announces Epcm Agreements with Lycopodium, Baird
ITAFOS PROVIDES UPDATE ON ITAFOS FARIM ENGINEERING AND CONSTRUCTION,
ANNOUNCES EPCM AGREEMENTS WITH LYCOPODIUM, BAIRD
TORONTO, ON – July 22, 2019 – Itafos (TSX VENTURE: IFOS) (the “Company”) today provided an
update on the engineering and cons truction of Itafos Farim and announced that it has signed an
engineering, procurement and construction management (“ EPCM”) agreement for mine site
development with Lycopodium Minerals Canada Limited (Toronto, C anada) (“Lycopodium”) and for
port site development with W.F Baird and Associates Ltd. (Madison, USA) (“Baird”).
“Signing EPCM agreements with Lycopodium and Baird represent key milestones in the development
of Itafos Farim, one of the highest grade undeveloped phosphate mine projects in the world,” said Dr.
Mhamed Ibnabdeljalil, interim CEO of Itafos.
The EPCM agreement with Lycopodium is for services related to t he development of Itafos Farim’s
mine site, which is expected to p roduce 1.3Mt per year of phosp hate rock. Lycopodium has a deep
understanding of the project as i t performed the technical repo rt for Itafos Farim titled “NI 43-101
Technical Report on the Farim Phosphate Project” in 2015.
The EPCM agreement with Baird is for services related to the development of Itafos Farim’s port site,
which is expected to load Itafos Farim’s mine site production for global export. Milestones achieved to
date include advancing detailed design, completing geotechnical design for piling and soil profiles and
advancing tendering of major procurement packages and long lead items.
In addition to the EPCM agreements with Lycopodium and Baird, t he Company has been advancing
other aspects of the constructi on and engineering of Itafos Far im including finalizing engineering,
studies and fieldwork, completing the construction camp and hiring of owners’ team.
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 the Company’s mailing list to receive notification 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