Itafos announced today the achievement of a key milestone regarding Conda’s mine life extension following the publication of the Notice of Intent (“NOI”) to prepare an Environmental Impact Statement (“EIS”) for the Husky 1/North Dry Ridge (“H1/NDR”) mine development project. The Company previously defined H1/NDR as the path forward for Conda’s mine life extension following completion of the independent technical report encompassing Conda and Paris Hills deposits during 2019.
“The initiation of the EIS process is a significant step towards executing on our key objective of extending Conda’s mine life through permitting and developing H1/NDR. Conda has a more than 30 year track record of safe and reliable operations and we look forward to continuing to serve our customers for many years to come,” said Tim Vedder, General Manager of Conda.
The NOI formally commences the National Environmental Policy Act (“NEPA”) EIS preparation and public engagement process by the U.S. Department of the Interior Bureau of Land Management and the U.S. Department of Agriculture Forest Service. The NEPA process is designed to help public officials complete permitting decisions that are protective of the environment and includes a public engagement process. The NOI states the intended schedule is to complete the final EIS by November 2021 and associated Records of Decision by February 2022.
On October 30, 2019, the Company announced the results of the independent technical report encompassing Conda and Paris Hills deposits and defined H1/NDR as the Company’s path forward for mine life extension. The independent technical report was compiled by Golder Associates Ltd. and titled “NI 43-101 Technical Report on the Itafos Conda and Itafos Paris Hills Mineral Projects, Idaho, USA” (the “Conda Technical Report”). On December 16, 2019, the Company announced the conversion of Mineral Resources to Mineral Reserves related to Conda’s existing mines, which are expected to extend Conda’s mine life through mid-2026. The Conda Technical Report is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.itafos.com.
About Itafos
The Company is a pure play phosphate and specialty fertilizer platform with an attractive portfolio of strategic businesses and projects located in key fertilizer markets, including North America, South America and Africa.
The Company’s businesses and projects are as follows:
The Company’s principal shareholder is CL Fertilizers Holding LLC (“CLF”). CLF is an affiliate of Castlelake, L.P., a global private investment firm.
The Company’s shares trade on the TSX Venture Exchange (“TSX-V”) under the trading symbol “IFOS”. The Company’s registered office is at Ugland House, Grand Cayman, Cayman Islands KY1-1104.
For more information, or to join the Company’s mailing list to receive notification of future news releases, please visit the Company’s website at www.itafos.com.
For further information, please contact:
Itafos Investor Relations
investor@itafos.com
www.itafos.com