Verde AgriTech PLC received environmental licenses for mining up to 150,000 tons per annum of its Super Greensand fertilizer product from its Cerrado Verde potash project in Brazil.

President and CEO Cristiano Veloso said the company intends to make full use of the newly permitted production capacity.

The previous environmental license and mining permit allowed for 20,000 tons per annum, according to a March 19 release.

A November 2017 pre-feasibility study for phased expansion at the Cerrado Verde project estimated an after-tax net present value of US$1.98 billion, using an 8% discount rate, internal rate of return of 290% and a mine life of 36 years.