Pacific Potash Corporation Focuses on Brazil Advantage
01 Août 2013 - 12:20AM
Access Wire
Vancouver, British Columbia - July
31st, 2013 - Pacific
Potash Corporation (TSX-V: PP; OTCQX: PPOTF; FSE: P9P, "Pacific
Potash", "the Company") would like to reiterate its main focus is
its Amazonas Basin Potash Project with drilling planned to commence
in September. News of Uralkali's exit from Belarusian Potash Co.
("BPC"), and its expressed intention to increase production by 2.5
million tonnes next year, has had an inordinate negative effect on
potash stocks. The Company is in agreement with a statement made by
K+S Aktiengesellschaft ("K+S") that the pricing for potash
fertilizers being spread by the media are unjustified and that they
do not reflect the current supply and demand situation in the
potash market.
Pacific
Potash is of the opinion that it is uniquely positioned in the
Brazilian market having a substantial logistical cost advantage
being located within a few hundred kilometers to the end user for
its product. Brazil is the third largest consumer of potash
globally and is also the world's largest growing potash market, as
its fastest growing and largest industry is agribusiness. The
Country has an estimated 30% of the world's remaining arable
farmland and is poised for long-term growth within this sector. The
Brazilian National Fertilizer Association (ANDA) has released data
showing that 2012 potash consumption increased (9.3%
year-over-year) to a record 8.1 million tonnes of KCl, 93% of which
was imported. The country currently has only one operating potash
mine, Taquari-Vassouras Mine in Sergipe Basin that produces
approximately 700,000 tons of KCL per year (7% of Brazil's demand).
Presently, the cost of shipping, freight, importation duties and
taxes can cost well over $100 per ton in addition to the potash
spot price. A project located in the Amazonas Potash Basin
supplying to the N-P-K blending plants locally in Brazil would
incur shipping and logistical cost of in the neighborhood of $30-50
per ton.
In addition to Urakali's
news, Potash Corp of Saskatchewan received TSX approval today for a
1 year 43,345,922 million share buyback program representing 5% of
the company's outstanding common shares.
About
Pacific Potash Corporation
Pacific Potash Corporation trades on
the TSX Venture Exchange under the symbol: PP, as well on the OTCQX
under the symbol: PPOTF and on the Frankfurt Stock Exchange under
P9P. Pacific Potash is engaged in the exploration and development
of the Amazonas Basin Project and the surrounding potash claims
targeting the Middle Amazonas Potash Basin, currently the host to
multiple new exploration campaigns for potash. The Company also is
exploring the Provost Potash Property and the surrounding potash
claims targeting the prolific Prairie Evaporite Formation, which is
host to multiple conventional and solution potash mines.
On behalf of the Board,
Pacific Potash
Corporation
Balbir Johal, LL.B
Executive Co-Chairman
& Director
For further
information, please visit our website at www.pacificpotash.com
or contact our V.P of Corporate Communications, Mike
Blady:
Mike Blady
Office:
604.895.7446
Email:
mblady@pacificpotash.com
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.
Caution
concerning forward-looking information
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Pacific Potash in light of its
experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause Pacific Potash's
actual results, performance and achievements to differ materially
from those expressed or implied by the forward-looking information
and statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to
update or revise any forward-looking information or statements
except as may be required.
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