June 1, 2012

UK's CD Capital leads revision of Brazil Potash

CD Capital, a UK private equity firm, has led the revision of the capital structure of Brazil Potash, a potash exploration firm, for US$56.8 million.

The UK-based firm, which targets private mining projects around the world, invested US$24.6 million of the total through its Natural Resources Fund II.

Brazil Potash said it would use the capital to continue drilling until it found a resource of sufficient size to merit further economic study.

It added it planned to list on the Brazilian stock exchange in the first quarter of 2013.

Company chairman Stan Bharti said, "The company has made significant progress towards defining a potash resource in the Amazon Basin. We have been working in the basin since 2007 where we believe there is potential for multiple potash deposits to be discovered. We are very happy that existing shareholders participated in this capital raising and we welcome our new Brazilian based shareholders onto the register."