Canada-based MBAC Fertilizer Corp. is working on developing its 100%-owned Santana phosphate project located in the south-east of Para state, in northern Brazil.
MBAC, which focuses on developing fertiliser mineral projects in Brazil for the domestic market, is at present drilling the first drill target area.
According to the results of a compliant Preliminary Economic Assessment (PEA) completed on 31 July 2011, the exploration company plans to start producing 500,000 tonnes single superphosphate (SSP) from Q3 2015, using 300,000 tonnes of P2O5 34% concentrate from its 900km2 deposit.
The Santana phosphate property is ideally suited to meet the fertiliser requirements of Mato Grosso state, the largest fertiliser consuming state in Brazil. Development of this property would give access to a very lucrative fertiliser market, MBAC explained....