Looks like little AmzHas locked in30% sales If these 2 HUGE clients like the product
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Amazon Mining Holding PLC(C-AMZ) -News Release
Amazon signs MOU with ArcelorMittal for trial funding
2009-09-23 10:39 ET -News Release
Shares issued 28,372,871
AMZ Close 2009-09-22 C
.59
Mr. Cristiano Veloso reports
ARCELORMITTAL AGREES TO FUND TRIALS OF AMAZON MINING'S THERMOPOTASH FERTILIZER
AmazonMining Holding PLC has entered into an agreement with ArcelorMittalBioenergia Ltda. (an ArcelorMittal Group company) to finance agronomictests using Amazon Mining's proposed ThermoPotash product, derived fromthe Cerrado Verde project.
Cerrado Verde is a source ofpotash-rich rock from which Amazon plans to produce a slow-release,non-chloride, multinutrient fertilizer product.
ArcelorMittalBioenergia produces charcoal for steel production from renewableeucalyptus forests, a substitute for mined metallurgical coal. Itsplantations cover 170,000 hectares (656 square miles) in the MinasGerais and Bahia states of Brazil. Eucalyptus was introduced to Brazilin 1910 for timber substitution and for the charcoal industry. It hasthrived in the local environment, and today there are around fivemillion hectares planted (19,000 square miles). The wood is highlyvalued by the pulp and paper industry, as well as the charcoalindustry. Typically wood can be harvested every five to seven years,helping to preserve the native forests from logging. The slow-releaseand multinutrient characteristics of ThermoPotash could make it anideal fertilizer for Eucalyptus.
The memorandum of understandingbetween Amazon Mining and ArcelorMittal governs testing of ThermoPotashproduct from a proposed pilot plant production. Under the terms of theagreement, Amazon will provide ThermoPotash to ArcelorMittal for use inplanting Eucalyptus forests. ArcelorMittal will designate a test plotand finance all costs associated with testing. ArcelorMittal'sinvestments will include yield comparisons and chemical analysis ofnutrient behaviour in the soil and in the eucalyptus. The companieswill jointly define the period in which the fertilizer is employed andthe stages of study. Data from the studies will be jointly owned byAmazon and ArcelorMittal, to be used for development of the product,product marketing and project financing. ArcelorMittal will havepre-emptive right to the acquisition of 15 per cent of potentialThermoPotash production at market price for a period of 24 months, inthe event of successful commissioning of a ThermoPotash productionfacility by Amazon Mining.
Commenting, Amazon Mining's presidentand chief executive officer, Cristiano Veloso, said: "This agreementrepresents a significant step in developing corporate demand for ourproposed product. We are pleased to enlist the help of such an esteemedpartner. Together we hope to develop a fertilizer alternative forBrazil's world leading biofuel and cultivated forests industries thatwill reduce dependence on imported potash salts."
We seek Safe Harbo~~~~~~~~~~~~~~~~~~~~~~~~~