Key Developments: Verde Potash PLC (AMHPF.PK)
24 Jul 2014
Latest Key Developments (Source: Significant Developments)
Verde Potash PLC announced that the Company has been selected by Inova Agro, a special financing progam of the Brazilian government, to advance to the next round of evaluation in the process to secure financing for Phase 1 of the Cerrado Verde project. Phase 1 of the Cerrado Verde project consists of a 1,000 tpd plant capable of producing ThermoPotash and also of seeking performance guarantees for a KCl kiln. Total funds to be distributed by Inova Agro are budgeted at R$1 billion(approximately CAD450 million), with funding allocation decisions to be announced in February 2014. Selected projects will be considered for subsidized interest rates, equity investment and non-reimbursable project investment grants from the Brazilian Development Bank (BNDES) and/or the Financing Agency for Studies and Projects (FINEP), both of which are arms of the Brazilian government with a mandate to support domestic projects. Full Article
Verde Potash PLC announced that the Board has appointed Mr. Leonardo Moretzsohn as Chairman of the Board of Directors and Mr. Jose Fernando Coura as a Director of the Board. Full Article
Verde Potash PLC announced the appointment of Mr. Milson Mundim, as the Company's Chief Financial Officer (CFO) as part of the Company's efforts to retool management for construction and operation. Based out of Belo Horizonte, Brazil , Mr. Mundim is assuming leadership of current efforts to structure the non-equity financing of the Cerrado Verde project, while overseeing the Company's regular reporting and treasury functions. The outgoing CFO Mr. Tim Slater, will continue to contribute to the Verde team as Corporate Secretary. Full Article
Feb 18 - A Brazilian government program to fund agriculture-related projects has chosen to finance a potash mine to be developed in Brazil by Verde Potash PLC, the company said on Tuesday.