Mentioned:
There’s a new company hitting the New York Stock Exchange. And they’re looking to make a major potash discovery in Brazil.
What’s happening:
- Brazil Potash (NYSE: GRO) has raised $30M USD in their IPO and officially begun trading on the NYSE
Why it matters:
- Potash is one of the best sources of potassium chloride which is needed for agricultural purposes, plant health and is one of the most important inputs for producing fertilizer for commercial farming purposes
By the numbers:
- Brazil currently imports 95% of their potash from other countries
- Brazil Potash is aiming to eventually be capable of producing 20% of all the potash needed for Brazil, which would be approximately 2.2M tonnes of potassium chloride annually
Going deeper:
- Brazil Potash’s flagship property is located in Amazonas, Brazil which is a prominent region in Brazil for significant potash deposits
