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Petrobras receives govt support to sell potassium mining rights

Bnamericas Published: Thursday, October 13, 2022
Petrobras receives govt support to sell potassium mining rights

Brazil’s mines and energy ministry (MME) is supporting state company Petrobras' plans to sell potassium exploration and mining rights in the Amazon basin.

In August, Petrobras said it would sell 34 mining titles. The Amazon basin contains sub-basins that harbor enormous potassium potential, making it a major exploration frontier, according to geological service SGB-CPRM

The ministry claims that opportunities for potassium extraction could revamp stagnant projects and help meet demand for fertilizer mineral raw materials.

“We consider this action strategic for Brazil, in addition to being in a region with excellent infrastructure for the installation of projects and for the flow of products, with availability of energy supply through the national interconnected system (SIN),” geology, mining and mineral transformation secretary Lília Mascarenhas said in a press release.

The potash to be explored in Amazonas could supply the largest agribusiness zone, in Mato Grosso and Mato Grosso do Sul states, among others, according to MME.

The government seeks to increase domestic production, as sanctions imposed after the invasion of Ukraine affect the supply of fertilizer from Russia. 

Brazil is the world’s fourth largest fertilizer consumer, accounting for about 8% of global demand, and is the largest fertilizer importer. It imports around 80% of fertilizer, and Russia supplied about 25% of that demand.

In Brazil, potassium is the main input in the production process, representing 38% of total fertilizer consumption, followed by phosphorus, with 33%, and nitrogen, with 29%.

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