TORONTO, July 15, 2013 /CNW/ - Verde Potash (TSX: "NPK") ("Verde" or the "Company") is pleased to announce Mr. Antônio Schettino has joined the Company as Chief Operating Officer ("COO"). Mr. Schettino joins from MMX Mineração e Metálicos ("MMX"), where he was COO responsible for managing and expanding iron ore production facilities with approximately eight million tonnes of annual capacity in Minas Gerais state. Having more than 30 years of experience in project development and construction, including more than two decades as the operations director of significant iron ore, nickel, limestone and coal mining operations in Brazil, Chile and Colombia, Mr. Schettino is ideally suited to advance the Cerrado Verde project. Mr. Pedro Ladeira, current COO, will continue with Verde as a technical advisor focusing on the Company's pyro process.
Mr. Schettino has spent his career developing and operating large mining projects. In addition to managing operations, as COO of MMX he also spent the last two years directing the engineering development and implementation of its US$2.1 billion Serra Azul expansion project, expected to increase iron ore capacity to 29 million tonnes per year at the company's mines in Minas Gerais state. Prior to joining MMX, Mr. Schettino spent six years at Votorantim, Brazil's second largest mining group. From 2008 through 2010, he was Director of Primary Products at Votorantim Siderurgia, and was responsible for iron ore, limestone and coal mines in Colombia. His role as Business Director of Votorantim's nickel unit (2005) included overseeing a business of 2,000 employees generating revenue of approximately US$550 million. From 1998 through 2003, Mr. Schettino was the General Manager of Mining at Companhia Siderúrgica Nacional ("CSN"), where he was responsible for the operation of iron ore and limestone mines in the state of Minas Gerais, including 16 million tonnes of iron ore output. At CSN, Mr. Schettino directed the expansion of the Casa de Pedra mine, one of the largest iron ore mines in Brazil. Responsibilities at CSN also included management of production, administration, commercial negotiations and personnel. From 1992 through 1998, he was General Manager at Minerações Brasileiras Reunidas (MBR), where he led the engineering, construction and operation of an iron ore beneficiation plant in Minas Gerais state. Earlier in his career Mr. Schettino spent six years at the Odebrecht Group in various development and mining operation roles in Brazil, Chile and the United States. He managed the construction of a tunnel seven kilometers in length by nine meters in diameter as part of a hydroelectric plant for Odebrecht in Chile. Mr. Schettino received a Bachelor's degree in Mining Engineering from Universidade Federal de Minas Gerais (UFMG).
Commenting, President and CEO, Cristiano Veloso, said: "Mr. Schettino has spent the past 30 years developing, constructing and operating significant mining projects, including three operations in Minas Gerais state. He has a track record of delivering successful projects for some of Brazil's most reputable mining companies. We are excited about the value his depth of experience can bring to the Cerrado Verde project." Mr. Veloso added: "We are thankful for the significant contribution Pedro Ladeira has made to date and are pleased he will continue to contribute as a technical advisor to our pyro process."
About Verde Potash
Verde Potash, a Brazilian fertilizer development company, is focused on advancing the Cerrado Verde project located in the heart of Brazil's largest agriculture market. Cerrado Verde is the source of a potash-rich deposit from which the Company intends to produce potassium chloride (KCl). In addition, the Company is developing its Calcario limestone project, limestone being a key raw material in the production of KCl.
About the Cerrado Verde Potash Project
Cerrado Verde is a unique project: 1) its high grade potash rock outcrops and is amenable to strip mining, allowing fast construction of a scalable operation; 2) it is located in the midst of the world's third largest and fastest growing fertilizer market; 3) it connects to Brazil's largest fertilizer distribution districts via existing and high quality infrastructure; 4) it has the potential to supply KCl to Brazil's local agriculture market from its large potash-rich deposit.
| Cautionary Language and Forward Looking Statements
NEITHER THE TSX EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, AND STATEMENTS REGARDING USE OF PROCEEDS. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD", "WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.
Readers are cautioned not to rely solely on the summary of such information contained in this release and are directed to the complete set of drill results posted on Verde's website (www.verdepotash.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein.
SOURCE: Verde Potash Plc
For further information:
Cristiano Veloso, President & Chief Executive Officer
Tel: +55 (31) 3245 0205; Fax: +55 (31) 3245 0205; Email: [email protected]
Jaret Anderson, CFA, VP Corporate Development
Tel: (416) 866-2966; ext. 223; Fax: (416) 866-8829; Email: [email protected]