HOUSTON, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (the “Company”) announced today a significant milestone on Conda’s mine life extension with the publication of the Draft Environmental Impact Statement (“Draft EIS”) for the Husky 1/North Dry Ridge (“H1/NDR”) mine development project. The Company previously defined H1/NDR as the path forward for Conda’s mine life extension following completion of the independent technical report encompassing Conda and Paris Hills deposits during 2019.
“The publication of the Draft EIS is an important step in executing on our key objective of extending Conda’s mine life through permitting and developing H1/NDR. Conda has a more than 30-year track record of safe and reliable operations and we look forward to continuing to serve our customers for many years to come,” said Tim Vedder, General Manager of Conda.
The Draft EIS was prepared under the National Environmental Policy Act (“NEPA”) by the U.S. Department of the Interior Bureau of Land Management and the U.S. Department of Agriculture Forest Service. The NEPA process is designed to help public officials complete permitting decisions that are protective of the environment and includes a public engagement process. The Draft EIS was published on the Federal Register on October 22, 2021, which initiated a public comment period through December 6, 2021. The Draft EIS is available on the Federal Register at https://www.federalregister.gov/documents/2021/10/22/2021-23027/notice-of-availability-of-draft-environmental-impact-statement-for-the-proposed-husky-1-north-dry.
On October 30, 2019, the Company announced the results of the independent technical report encompassing Conda and Paris Hills deposits and defined H1/NDR as the Company’s path forward for mine life extension. The independent technical report was compiled by Golder Associates Ltd. and titled “NI 43-101 Technical Report on the Itafos Conda and Itafos Paris Hills Mineral Projects, Idaho, USA” (the “Conda Technical Report”). On December 16, 2019, the Company announced the conversion of Mineral Resources to Mineral Reserves related to Conda’s existing mines, which are expected to extend Conda’s mine life through mid-2026. The Conda Technical Report is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.itafos.com.
The Company is a phosphate and specialty fertilizer company. The Company’s businesses and projects are as follows:
Conda – a vertically integrated phosphate fertilizer business with production capacity of approximately 550kt per year of monoammonium phosphate (“MAP”), MAP with micronutrients (“MAP+”), superphosphoric acid (“SPA”), merchant grade phosphoric acid (“MGA”) and ammonium polyphosphate (“APP”) located in Idaho, US;
Arraias – a vertically integrated phosphate fertilizer business with production capacity of approximately 500kt per year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”) and approximately 40kt per year of excess sulfuric acid (220kt per year gross sulfuric acid production capacity) located in Tocantins, Brazil;
Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
Santana – a vertically integrated high-grade phosphate mine and fertilizer plant project located in Pará, Brazil;
Araxá – a vertically integrated rare earth elements and niobium mine and extraction plant project located in Minas Gerais, Brazil;
Paris Hills – a phosphate mine project located in Idaho, US (wind down in process); and
Mantaro – a phosphate mine project located in Junin, Peru (wind down in process).
The Company is a Delaware corporation that is headquartered in Houston, TX. The Company’s shares trade on the TSX Venture Exchange (“TSX-V”) under the ticker symbol “IFOS”. The Company’s principal shareholder is CL Fertilizers Holding LLC (“CLF”). CLF is an affiliate of Castlelake, L.P., a global private investment firm.
For more information, or to join the Company’s mailing list to receive notification of future news releases, please visit the Company’s website at www.itafos.com.
Certain information contained in this news release constitutes forward-looking information. All information other than information of historical fact is forward-looking information. The use of any of the words “intend”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “would”, “believe”, “predict” and “potential” and similar expressions are intended to identify forward-looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that this information will prove to be correct and such forward-looking information included in this news release should not be unduly relied upon.
Forward-looking information is subject to a number of risks and other factors that could cause actual results and events to vary materially from that anticipated by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to, those risk factors set out in the Company’s management’s discussion and analysis and other disclosure documents available under the Company’s profile at www.sedar.com and on the Company’s website at www.itafos.com. Readers are cautioned that the foregoing list of risks, uncertainties and assumptions are not exhaustive. The forward-looking information included in this news release is expressly qualified by this cautionary statement and is made as of the date of this news release. The Company undertakes no obligation to publicly update or revise any forward-looking information except as required by applicable securities laws.
NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information, please contact:
Itafos Investor Relations investor@itafos.com www.itafos.com
Anyone positioning their portfolio for a recession could be making a big mistake.
“We are exiting that regime, and it’s going to be bumpy,” said the famous Fed watcher Mohamed El-Erian of the world where central banks let the money flow.
The Bitcoin carnage continues, as the cryptocurrency breaks $20,000 to trade at its lowest level since 2020.
Bitcoin’s price fell well below $19,783, the previous all-time high it notched in December 2017.
See: I’m a 57-year-old nurse with no retirement savings and I want to retire within seven years. Having $110,000 in retirement accounts is great, and you don’t want to have to start dwindling that down while also trying to manage a way to effectively pay down credit card debt and a mortgage. “I think she needs to take a hard look at her income and expenses,” said Tammy Wener, a financial adviser and co-founder of RW Financial Planning.
When Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett speaks, Wall Street and investors wisely pay close attention. While riding Buffett's coattails has been a moneymaking strategy for decades, it's equally important to take note of the stocks that the world's most successful investor and his investing team are selling or avoiding. Thus far in 2022, Warren Buffett has overseen the aggressive selling of the following five stocks.
‘Bitcoin has already broken down [and is] now seeing significant downside follow-through,’ says Katie Stockton of Fairlead Strategies. Bitcoin believer Yves Lamoureux of Lamoureux & Co., though, thinks ‘bitcoin is fine.’
Already, very early signs of slowing demand and inflation are cropping up. If the economy averts all-out disaster, then stabilizing or declining rates would spur a market rebound.
Vinny Zane has a taste for life — and an appetite for risk. The 38-year-old teacher and father of a 2-year-old son on Brooklyn’s Coney Island got into crypto in 2017 with $4,000 worth of Bitcoin, and jumped into NFTs, or non-fungible tokens, last year. “It was a learning curve for me,” he told MarketWatch.
AMD and Nvidia have been swallowed up in the bear market, with each stock declining at least 50%. Here's how to trade them now.
Inside Boeing’s cavernous factory at Everett, 30 miles north of Seattle, engineers quietly put the final touches to its new Jumbo Jet.
THE MONEYIST Dear Quentin, My boyfriend and I have been together seven years, and in that time I bought a house. I used my own savings and spent about $10,000 on renovations. My house is a three-bedroom family home, and the tenants cover most of my mortgage.
Since hitting their all-time closing highs, the widely followed Dow Jones Industrial Average, benchmark S&P 500, and growth stock-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) have respectively tumbled by 17%, 22%, and 33%. There's no question that the velocity and unpredictability of downward moves during a bear market can weigh on investors' psyche. This makes corrections and bear markets the opportune time to put your money to work.
President Joe Biden and a slew of other democrats have been lashing out against Big Oil, accusing the companies of price gouging
With investors worldwide looking at a $1.5 trillion in recent cryptocurrency losses, a blizzard of class-action lawsuits are being prepared. One big question is: who, if anyone, is to blame ?
Remember TINA? She’s the one everyone was talking about for the past few years, when it came to buying stocks. ‘There is no alternative,’ they said – pointing out that the near-zero interest rate policy has pushed bond yields down to nothing, and that the housing crisis of 2008 had left investors wary of the real estate market – and stocks were the highest returning game in town. Not anymore. The Federal Reserve has just cracked the whip on rate hikes, implementing a 0.75% increase to the benchm
Retail stocks have taken a beating, but inflation, supply chain woes, and other cost concerns don't tell the full story.
While many taxpayers dread tax filing season, Americans living abroad face even bigger yearly burdens and those are so frustrating that some want to ditch their U.S. citizenship.
It's no secret that Warren Buffett is one of the best investors alive, delivering investors returns of 20% compounded annually since becoming chief executive officer of Berkshire Hathaway in 1965. Numerous factors can explain Buffett's success, and an important one is his love of dividend stocks. Dividend stocks are a great source of returns in the market and, according to Fidelity, have accounted for 40% of the S&P 500's total returns since 1930.
The cryptocurrency market’s latest swoon has raised the specter of bankruptcy restructuring. In such a case, crypto investors would be navigating uncharted territory.