Itafos Announces Completion of Planned Plant Turnaround, Achievement of Record May Map Production at Itafos Conda
June 26 2019 - 7:12PM
Itafos (TSX VENTURE: IFOS) (the “
Company”)
announced today that Itafos Conda completed its planned plant
turnaround during June 2019 and achieved record May MAP production
during May 2019.
“The team at Itafos Conda continues to
demonstrate a safety-first approach to operational excellence,
confirming the dedication and skill of our people and the benefits
of robust training, precision maintenance and reliability programs.
The successful completion of the plant turnaround helps to ensure
that Itafos Conda will continue to deliver quality phosphate
products to our customers,” said Dr. Mhamed Ibnabdeljalil, interim
CEO of Itafos.
The plant turnaround at Itafos Conda was
completed on schedule and within budget. The plant turnaround
focused on inspection, testing and preventative maintenance of
critical equipment, as well as performing electrical infrastructure
upgrades. Following completion of the plant turnaround, Itafos
Conda has returned to full production capability.
Prior to the plant turnaround, Itafos Conda
achieved record May MAP production of 34,288t in May 2019,
exceeding the previous record of 32,341t in May 2013.
About Itafos
Itafos is a vertically integrated phosphate
fertilizers and specialty products company with an attractive
portfolio of long-term strategic businesses and projects located in
key fertilizer markets worldwide. Itafos is managed by an
experienced and diverse team with extensive operations, commercial
and financial expertise. Itafos owns and operates Itafos Conda, a
vertically integrated phosphate fertilizer business with production
and sales capacity of approximately 550kt per year of monoammonium
phosphate (“MAP”), superphosphoric acid (“SPA”), merchant grade
phosphoric acid (“MGA”) and specialty products including ammonium
polyphosphate (“APP”) located in Idaho, US and Itafos Arraias, a
phosphate fertilizer business with production and sales capacity of
approximately 500kt per year of single superphosphate (“SSP”), SSP
with micronutrients (“SSP+”) and other products and approximately
40kt per year of excess sulfuric acid located in Tocantins, Brazil.
Itafos owns and is developing Itafos Paris Hills, a high-grade
phosphate mine project located in Idaho, US, Itafos Farim, a
high-grade phosphate mine project located in Farim, Guinea-Bissau,
Itafos Santana, a vertically integrated high-grade phosphate mine
and fertilizer plant project located in Pará, Brazil, Itafos
Mantaro, a large phosphate mine project located in Junin, Peru and
Itafos Araxá, a vertically integrated rare earth elements and
niobium mine and extraction plant project located in Minas Gerais,
Brazil.
For more information, or to join the Company’s
mailing list to receive notification of future press releases,
please visit the Company’s website, www.itafos.com.
Forward Looking Information
Certain information contained in this news
release constitutes forward looking information. All information
other than information of historical fact is forward looking
information. The use of any of the words “intend”, “anticipate”,
“plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”,
“should”, “would”, “believe”, “predict” and “potential” and similar
expressions are intended to identify forward looking information.
This information involves known and unknown risks, uncertainties
and other factors that may cause actual results or events to differ
materially from those anticipated in such forward looking
information. No assurance can be given that this information will
prove to be correct and such forward looking information included
in this news release should not be unduly relied upon.
Forward looking information is subject to a
number of risks and other factors that could cause actual results
and events to vary materially from that anticipated by such forward
looking information. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Factors that may cause actual
results to differ materially from expected results described in
forward-looking statements include, but are not limited to, those
risk factors set out in the Company’s Management Discussion and
Analysis and other disclosure documents available under the
Company’s profile at www.sedar.com. Readers are cautioned that the
foregoing list of risks, uncertainties and assumptions are not
exhaustive. The forward looking information included in this news
release is expressly qualified by this cautionary statement and is
made as of the date of this news release. Itafos undertakes no
obligation to publicly update or revise any forward looking
information except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please
contact:
ItafosRobert
Winslow647-248-5455robert.winslow@itafos.com
www.itafos.com
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