TSXV:IFOS - Post Discussion
Post by
HenoftheWoods on Feb 08, 2022 11:59pm
Up and running in Brazil!
HOUSTON, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (the "Company") announced today the resumption of sulfuric acid production and sales at ...
Arraias. The recommissioning of the previously idled sulfuric acid plant was completed on schedule, within budget and with no reportable environmental releases or recordable incidents.
"We are pleased to have safely and successfully completed the recommissioning of the sulfuric acid plant at Arraias. While we continue to evaluate strategic alternatives for Arraias, we are opportunistically restarting the sulfuric acid plant to supply market demand and deliver positive margins," said G. David Delaney, CEO of Itafos.
Arraias' sulfuric acid plant has production capacity of 220kt per year. The Company expects to operate the sulfuric acid plant at Arraias with a base load capacity of approximately 10.5kt per month. Arraias has secured short-term sulfuric acid offtake agreements for its base load capacity with pricing linked to sulfur benchmarks. Based on market demand, the Company expects to opportunistically produce additional volumes of sulfuric acid to be sold on the spot market.
The remainder of the infrastructure associated with Arraias' vertically integrated phosphate fertilizer business, including its mine, beneficiation plant, acidulation plant and granulation plant remain idled following best practices
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