0
Home
News
Directory
E-newsletter
Magazine
Events
Data
AgReport
Subscribe
MBAC Fertilizer Provides Production Update
Sep. 29, 2014
Itafos (formerly MBAC Fertilizer Corp.)
CaymanIslandsFollow
CaymanIslands
MBAC Fertilizer Corp. provided an update on the production ramp up at its Itafós operations in Brazil.
Since resuming continuous production following the ease of working capital constraints, MBAC has produced 16,032 tonnes of Single Super Phosphate ("SSP") and 9,478 tonnes of sulphuric acid for the month of September. The production totals are through September 23rd. Production in the past week amounted to 6,312 tonnes of SSP.
"We are encouraged by the progress being made at Itafós," said Cristiano Melcher , President and CEO of MBAC Fertilizer. "In a period of accelerated ramp up, we continue to produce high quality SSP while optimizing our operations to drive more efficiencies."
Consistent with recent guidance, the Company expects to achieve commercial production in the coming weeks. Commercial production rate is equivalent to a monthly or 30-day production volume of 25,000 tonnes of SSP or approximately 60% of nominal capacity. Itafós' nameplate capacity is 500,000 tonnes of SSP per year.
Prior to reaching commercial production, MBAC capitalizes all costs incurred at its Itafós operations to property, plant and equipment. Proceeds from sales during this period are offset against costs capitalized. To date in 2014, MBAC has delivered approximately 70,000 tonnes of SSP and 12,050 tonnes of sulfuric acid, which represents pre-commercial revenue of approximately $14.4 million.
MBAC continues to explore several financing arrangements, including the sale of non-core assets and other strategic short and long term alternatives that will enable the Company to continue and accelerate the ramp up at Itafós.
The company is focused on becoming a significant integrated producer of phosphate and potash fertilizers and related products in the Brazilian market.
Source: MBAC Fertilizer Corp.
More from AgroNews
Change
Hot TopicSubscribe
| Subscribe Email: | * | |
| Name: | ||
| Mobile Number: | ||
Comment
0/1200
NEWSLETTER