In the NewsAmazon Mining Holding PLC (C-AMZ) - In the News
Post says Amazon Mining looks for production in 2013
2011-03-08 07:25 ET - In the News
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AMZ Close 2011-03-08 C$ 8.40
The Financial Post reports in its Tuesday edition that junior potash companies are a dime a dozen these days, but one of the few true standouts is Amazon Mining Holding PLC. The Post's Peter Koven writes the company, founded by Brazil's Cristiano Veloso, has taken a unique path to success -- so much so that it even plans to mine a new potash product. Amazon's Cerrado Verde project is expected to come on-line in 2013 and be one of Brazil's most important sources of fertilizer. There is no better place to be: The Brazilian potash market is expected to nearly double in a decade, and virtually all of its potash is imported right now. "Brazil in 10 years is expected to consume more potash alone than the whole of North America," Mr. Veloso says. Mr. Veloso, only 29, knows the Brazilian agriculture market from personal experience. He grew up in Brazil's Cerrado region, and like many other families, his had to move away because the prospects for agriculture were so dim. Mr. Veloso took Amazon public in London in 2007. Amazon's proposal is to develop a product called "ThermoPotash" out of the Cerrado Verde deposit. Since ThermoPotash is not a salt like KCL, it should not wash away so easily in the rain.