Brazil Potash seeking up to $1.8B to build big Amazon mine, CEO says

[fertilizer in farmer hand. NPK fertilizers are three-component fertilizers providing nitrogen, phosphorus, and potassium]
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Brazil Potash (NYSE:GRO [https://seekingalpha.com/symbol/GRO]) is in talks [https://www.reuters.com/markets/commodities/brazil-potash-seeks-up-18-billion-build-amazon-mine-2025-08-14/] with banks and other lenders to secure $1.7B-$1.8B in debt to fund its planned potash mine in Brazil's Amazonas state, CEO Matt Simpson told Reuters in an interview Thursday.

The underground mine is planned to supply 2.4M st/year of potash, equivalent to 17% of Brazil's current potash needs once production begins near 2030, which would be key for the country that is a global agricultural powerhouse that also imports nearly all of its potash fertilizer, Simpson said.

Brazil Potash (NYSE:GRO [https://seekingalpha.com/symbol/GRO]) has raised $280M so far to fund construction of the project, which is expected to cost ~$2.5B, the CEO said.

The company already has secured an agreement with agriculture company Amaggi which committed to purchasing 550K tons of the mine's planned production, and it has a memorandum of understanding for another 1M tons with another company and is in talks with a third potential client, according to Simpson.

"Over the course of the next couple of months, we're aiming to have ~2.2M of our 2.4M [short tons] under contracts for at least 10 years in duration," Simpson said.

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