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Itafos and Rio Tinto Amend Sulfuric Acid Contract to Further Support American Farming
HOUSTON, May 14, 2026 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (OTCQX: ITFS) (the “Co...
About this update from Itafos Inc
[{"type":"text","content":"Itafos and Rio Tinto Amend Sulfuric Acid Contract to Further Support American Farming \nHOUSTON, May 14, 2026 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (OTCQX: ITFS) (the “Company” or “Itafos”) is pleased to announce that today it has entered into an amendment to its sulfuric acid supply contract (the “Sulfuric Acid Supply Agreement”) with Rio Tinto, continuing its long-term relationship with its U.S. copper producer Kennecott, a key supplier of a primary raw material required to produce its phosphate products manufactured at the Company’s Conda, Idaho facility. Pursuant to the amended Sulfuric Acid Supply Agreement, Itafos will continue to purchase sulfuric acid from the Kennecott mine in Utah. Under the amended agreement, the reference index price will change from the Vancouver Index to the Tampa Index from May 1, 2026 through December 31, 2029. To promote long-term value for both U.S. farming and mining industries, the parties have agreed to an adjusted sulfuric acid price until December 31, 2029 to help address significant price volatility of sulfur over the last four years. Additional modifications to the Sulfuric Acid Supply Agreement around delivered volumes have been negotiated to provide greater flexibility for incremental supply (subject to availability).   Conda has historically sourced approximately 60% of its sulfuric acid requirements from Rio Tinto, and it is expected that it will purchase similar volumes under the amended Sulfuric Acid Supply Agreement. After December 31, 2029, it is expected that Itafos will continue to purchase sulfuric acid from Rio Tinto. Chief Executive Officer of Itafos, David Delaney commented, “We are pleased to announce this amendment and thank the Rio Tinto team for further strengthening the relationship. The amended contract will allow us to maintain supply of a vital input to our production process while decreasing our exposure to volatility in commodity prices. Rio Tinto has been a reliable supplier to the Conda plant for over three decades, and we are pleased to continue this relationship on terms that are mutually beneficial to both parties.” “This amended agreement reflects the strength of our long-standing partnership and our shared commitment to reliable supply for the U.S. agriculture sector,&#x...