Itafos Inc.announced today the resumption of sulfuric acid supply to Conda from Rio Tinto’s Kennecott mine. Following the resumption of sulfuric acid supply, Conda has returned to full production capacity. Conda’s return to full production capacity is within the timeframe considered in the Company’s revised full-year guidance for 2021 issued on November 11, 2021.
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The Company previously announced the disruption of sulfuric acid supply to Conda after Rio Tinto announced that it had declared force majeure on shipments of copper cathode and sulfuric acid from its Kennecott mine after the smelter was shut down on September 21, 2021 following a release of molten copper materials. Conda purchases approximately 60% of its annual sulfuric acid requirements from Rio Tinto’s Kennecott mine under a long-term supply agreement.
About Itafos
Itafos Inc. Company is a phosphate and specialty fertilizer company. The Company’s businesses and projects are as follows:
Conda – a vertically integrated phosphate fertilizer business with production 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;
Arraias – a vertically integrated phosphate fertilizer business with production capacity of approximately 500kt per year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”) and approximately 40kt per year of excess sulfuric acid (220kt per year gross sulfuric acid production capacity) located in Tocantins, Brazil;
Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
Santana – a vertically integrated high-grade phosphate mine and fertilizer plant project located in Pará, Brazil;
Araxá – a vertically integrated rare earth elements and niobium mine and extraction plant project located in Minas Gerais, Brazil;
Paris Hills – a phosphate mine project located in Idaho, US (wind down in process); and
Mantaro – a phosphate mine project located in Junin, Peru (wind down in process).
The Company is a Delaware corporation that is headquartered in Houston, TX. The Company’s shares trade on the TSX Venture Exchange (“TSX-V”) under the ticker symbol “IFOS”. The Company’s principal shareholder is CL Fertilizers Holding LLC (“CLF”). CLF is an affiliate of Castlelake, L.P., a global private investment firm.