Itafos has shut down its enterprise in Brazil
The Canadian company Itafos has announced that it completely stopped the operation of the Itafos Arraias enterprise (Brazil), while earlier it had suspended the implementation of the repurpose plan for its production. This decision is due to the need to optimize capital in the face of the continued downward pressure on global mineral fertilizer prices.
In the course of the Itafos Arraias closing-down all its employees were laid off and contractor terminations were completed. The remaining inventory and the stockpiles of raw materials used in the production were sold.
“We have safely completed the idling of Itafos Arraias to manage the current fertilizer downcycle and preserve the value of the assets while we evaluate strategic alternatives for the business. We have also further validated the long-term viability of the assets by completing independent third party reviews of the mine and beneficiation plant that confirmed that restarting Itafos Arraias’ mine and beneficiation plant is viable,” said Dr. Wynand van Dyk, VP Engineering, R&D and Development at Itafos.
Itafos Arraias can produce up to 500 thousand tons of phosphorus fertilizers per year.