Business
MBAC Receives Final Operating License For Itafós Arraias SSP Project
TSX:MBC OTCQX:MBCFF Shares Outstanding:152,029,492 Fully Diluted:161,252,908 TORONT...
About this update from Itafos Inc
[{"type":"text","content":"\n\n\nTSX:MBC\nOTCQX:MBCFF\nShares Outstanding:152,029,492\nFully Diluted:161,252,908\n\n\nTORONTO, June 28, 2013 /CNW/ - MBAC Fertilizer Corp. (\"MBAC\" or the \"Company\") (TSX:MBC and OTCQX:MBCFF) is pleased to announce that it has now received the final operating\n license (the \"Licença de Operação\" or the \"Operating License\") from the\n Tocantins State Environmental Agency (\"Naturatins\" or the \"Agency\") to\n operate all plants, including the sulphuric acid plant, the SSP plant\n and the granulation plant at the Itafós Arraias Single Super Phosphate\n (\"SSP\") Project (\"Itafós\" or the \"Itafós Project\").  The Governor of\n the Tocantins State, Wilson Siqueira Campos, delivered the Operating\n License to the Company at an official ceremony held in Palmas,\n Tocantins this morning. The Brazil Environment Minister, Izabella\n Teixeira, and the mayor of the city of Arraias, Cacildo Vasconcellos\n were in also attendance at the ceremony. Roberto Busato Belger, the\n President and COO of the Company also attended the ceremony on behalf\n of MBAC.\n\n\nThe issuance of the Operating License by Naturatins represents a\n significant milestone as it is the final regulatory approval required\n for Itafós to start operations as an integrated SSP producer.\n\n\nAt the event, Roberto Busato Belger, and the Governor of Tocantins State\n commented that Arraias is now an important part of a newly organized\n industrial district as Itafós is the first large scale fertilizer\n producer of the Cerrado area.  Both also emphasized the significance of\n the large investment made through having Itafós in the region. Itafós\n is expected to bring significant benefits for local farmers by\n supplying quality fertilizer with reduced logistics costs as well as to\n the community it serves with the additional jobs, social programs and\n infrastructure.\n\n\nWith the issuance of the Operating License which represents the final\n stamp of approval from the State authorities, the Company believes that\n the timeline for the Project remains consistent with previously\n disclosed expectations.\n\n\nAbout MBAC\n\n\nMBAC is focused on becoming a significant integrated producer of\n phosphate and potash fertilizers and related products in the Brazilian\n and Latin American markets. MBAC has ...