Brazil Potash signs 10-year contract to receive up to 900,000 tons of potash annually from Autazes project

Brazil Potash has signed a definitive 10-year offtake agreement with Keytrade Fertilizantes Brasil, securing sales of up to 900,000 tons of potash annually from its Autazes project in Amazonas state.

The contract, announced on August 20, finalizes a memorandum of understanding signed in January and represents a binding take-or-pay commitment. It follows a similar arrangement with Amaggi, bringing total secured volumes to about 1.45 million tons per year—roughly 60% of Brazil Potash’s planned 2.4 million-ton annual production capacity.

“This agreement with Keytrade is a major milestone in Brazil Potash’s commercial development,” said Matt Simpson, chief executive of Brazil Potash. “These long-term contracts provide the revenue certainty essential for securing project financing and advancing construction.”

Anthony Jezzi, chief executive of Keytrade Fertilizantes Brasil, said the deal “marks a pivotal moment” for the company, allowing it to distribute Brazilian-produced potash while reducing the country’s reliance on imports.

Under the terms of the agreement, Keytrade will purchase between 30% and 37% of Brazil Potash’s annual output, with obligations commencing once production begins and scaling with the ramp-up phase. The contract also includes a profit-sharing mechanism and permits assignment of payment rights to lenders to support project financing.

With the addition of Keytrade, Brazil Potash said it is in advanced talks with another potential partner that could increase contracted volumes to 91% of total capacity. The remainder would be reserved for spot sales to Brazilian farmers and to manage operational flexibility.

The Autazes project is designed to produce 2.4 million tons of potash per year, equivalent to about 20% of Brazil’s current demand. Brazil imported more than 95% of its potash requirements in 2021, despite having large undeveloped reserves.

Brazil Potash is listed on the NYSE American exchange under the ticker GRO.