Brazil Potash (GRO) said Monday it has signed a preliminary cooperation agreement with the Mura Indigenous Council, establishing a framework for collaboration between the company and the native people living along the Amazon River as it develops its Autazes potash project.
The agreement calls for sustainable development, investment in social and cultural development initiatives for indigenous villages and commitment to socioeconomic and environmental programs aligned with environmental licensing and legal requirements, the company said.
Brazil Potash said it is expecting to initially produce around 2.4 million tons annually, supplying about 17% of Brazil's potash demand. Output will likely double over time, the company said, adding that all of its production will sold domestically in Brazil.
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