Brazil Potash Corp. (“Brazil Potash” or the “Company”) (NYSE-American: GRO), a mineral exploration and development company with a critical mineral potash agriculture project, the Autazes Potash Project (the “Project”), today announced a series of significant progress updates at the Project, including the receipt of federal water extraction rights, the commencement of indigenous community partnership work, and the advancement of construction financing initiatives. The Project has obtained 21 Installation Licenses, permitting construction of the mine shafts, processing plant and upgrades to eight miles of road connecting the plant to the port and river barge port.
“The progress we are announcing today demonstrates the continued forward momentum at Autazes across multiple critical workstreams,” said Matt Simpson, Chief Executive Officer of Brazil Potash. “Securing federal water rights from ANA is both a regulatory milestone and an engineering improvement that simplifies our design and reduces costs. WSP Global’s engagement with the 36 Mura communities reflects our deep commitment to developing this project in genuine partnership with indigenous peoples – ensuring that the communities closest to the project share meaningfully in its benefits. On the financing side, the Build, Own, Operation & Transfer (BOOT) proposals for key infrastructure and the advancing discussions with DFIs, ECAs, and equipment suppliers demonstrate the breadth of interest from credible parties in supporting the construction of this strategically important project. Every milestone we achieve brings Brazil one step closer to breaking its dependence on imported potash and securing its future as the world's agricultural leader.”
Federal Water Extraction Rights Granted
Brazil Potash has obtained approval from ANA, Brazil’s National Water and Sanitation Agency (Agência Nacional de Águas e Saneamento Básico - ANA), to extract water from the Rio Madeira for use in the processing of potash ore at the Project. The grant of water rights, dated January 30, 2026, authorizes the Company to extract up to 2,400 cubic meters per hour for 12 hours per day, equivalent to an annual volume of approximately 10.5 million cubic meters, for a 10-year term.
This approval represents a meaningful design optimization for the Project. As originally planned, the Company expected to sink approximately sixteen groundwater wells to a depth of roughly 250 meters to extract groundwater for ore processing. The ANA approval to instead utilize surface water from the Rio Madeira river is anticipated to result in a reduction in construction costs by eliminating the need for these deep wells. According to the Amazonas State Environmental Protection Agency IPAAM, this solution aligns with regulatory guidelines that prioritize surface water use when environmentally appropriate and economically viable.
The Company’s water management strategy includes recycling the vast majority of water used in processing, collecting natural surface water runoff, and operating a water purification plant as an integral part of the project design with fresh makeup water used to meet water quality and flow requirements.
Indigenous Community Partnership Advancement
WSP Global, one of the world’s leading professional services firms, has initiated technical support activities with the Mura Indigenous communities previously consulted as part of the process to obtain the construction Installation Licenses, in line with internationally recognized engagement practices.
The initiative seeks to support the Mura people in the systematization and refinement of their own development priorities, contributing to the strengthening of the Mura Wellbeing Plan and to the identification of opportunities for social inclusion, capacity building, and community wellbeing. The activities are designed to inform future dialogue and collaborative actions, respecting the autonomy, cultural values, and self-determined vision of the Mura communities.
Third-Party Infrastructure Financing Proposals
The Company has recently received proposals for third-party funding to Build, Own, Operate and Transfer (“BOOT”) construction of several key infrastructure components, including the river barge port facility, the steam plant, and a 20MW construction power system that is designed to convert to backup power during the operations phase. These proposals are currently being analyzed and, if advanced, have the potential to reduce the Company’s direct capital requirements by shifting certain infrastructure costs to third-party operators.
Construction Financing Discussions Progressing
Discussions with various groups including Global Development Finance Institutes (“DFIs”), Export Credit Agencies (“ECAs”), and major equipment suppliers to fund construction of the Autazes Project are progressing well. The Company continues to engage with multiple parties across these categories as it advances toward securing the financing necessary to commence full-scale construction.
About Brazil Potash
Brazil Potash (NYSE-American: GRO) (www.brazilpotash.com) is developing the Autazes Project to supply sustainable fertilizers to one of the world’s largest agricultural exporters. Brazil is critical for global food security as the country has amongst the highest amounts of fresh water, arable land, and an ideal climate for year-round crop growth, but it is vulnerable as it imported over 95% of its potash fertilizer in 2024, despite having what is anticipated to be one of the world’s largest undeveloped potash basins in its own backyard. The potash produced will be transported primarily using low-cost river barges on an inland river system in partnership with Amaggi (www.amaggi.com.br), one of Brazil’s largest farmers and logistical operators of agricultural products. With an initial planned annual potash production of up to 2.4 million tons per year, Brazil Potash’s management believes it could potentially supply approximately 20% of the current potash demand in Brazil. Management anticipates 100% of Brazil Potash’s production will be sold domestically to reduce Brazil’s reliance on potash imports while concurrently mitigating approximately 1.4 million tons per year of GHG emissions
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