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Petrobras (PETR4) begins binding phase for sale of potash mining rights

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The oil company said that potential buyers qualified for this phase will receive an invitation letter with detailed instructions on the process (Image: REUTERS/Jamil Bittar)

THE Petrobras (PETR4) began the binding phase regarding the sale of mining rights for research and mining of potassium salts in the Amazon Basin, according to a statement released this Friday.

The oil company said that potential buyers qualified for this phase will receive an invitation letter with detailed instructions on the process, which includes guidelines for carrying out due diligence and for submitting binding proposals.

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The asset consists of 34 titles granted by the National Mining Agency (ANM), of which 8 are mining concessions, 4 are applications and 22 are in the process of authorization for research.

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Source: Moneytimes

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