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Brazil Potash Corp. ( (GRO) ) has issued an announcement.
Brazil Potash Corp. has signed a Memorandum of Understanding with Fictor Energia for the construction of a $200 million power line, crucial for the Autazes potash project. This agreement will see Fictor Energia funding the power line construction, removing this cost from Brazil Potash’s budget, and investing $20 million in equity. The partnership is expected to secure long-term energy supply and align with the project’s production timeline, potentially enhancing Brazil Potash’s position in the market by reducing operational costs and ensuring energy sustainability.
The most recent analyst rating on (GRO) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on Brazil Potash Corp. stock, see the GRO Stock Forecast page.
More about Brazil Potash Corp.
Brazil Potash Corp. is a mineral exploration and development company focused on the Autazes Project, which aims to supply sustainable fertilizers to Brazil, a major agricultural exporter. The company seeks to reduce Brazil’s reliance on potash imports by potentially supplying 20% of the country’s current potash demand, while also mitigating greenhouse gas emissions.
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See more data about GRO stock on TipRanks’ Stock Analysis page.