Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Verde Potash: Final Exploration Report Approved 0 comments
    Jun 18, 2013 2:55 PM

    Verde Potash's (TSE:NPK) final exploration reports for its Cerrado Verde Mineral licences have been given the go-ahead by the Brazilian mining authorities.

    The approval from the National Department of Mineral Production (DNPM) paves the way for the fertiliser developer to submit an Economic Development Plan.

    Verde described it as a notable milestone as the project moves through the Brazilian permitting process.

    President and chief executive Cristiano Veloso said: "We are pleased that the DNPM has approved the final exploration reports for these mineral tenements.

    "This is an important permitting milestone that advances us towards receipt of a mining concession (Portaria de Lavra) and thus further de-risks the mining side of the project."

    Miners in Brazil must submit a final exploration report to the DNPM before the licence expires. Exploration licences are granted for a period of one to three years and are renewable for a further three years.

    Brazil is in desperate need of potash supply as the agricultural powerhouse is the world's largest exporter of coffee, sugar and poultry.

    Last year, the South American powerhouse consumed 8.1mln tonnes of potash, of which 7.5mln tonnes or 93% was imported, making it the world's largest potash importer for the second year in a row.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.