TORONTO, July 15, 2013 /PRNewswire/ --
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
(http://www.verdepotash.com) and filed on SEDAR
(http://www.sedar.com) and any future amendments to such. Readers
are also directed to the cautionary notices and disclaimers
contained herein.
For further information:
Cristiano Veloso, President
& Chief Executive Officer
Tel: +55-(31)-3245-0205; Fax: +55-(31)-3245-0205;
Email: cv@verdepotash.com
http://www.verdepotash.com
Jaret Anderson, CFA, VP
Corporate Development
Tel: +1-(416)-866-2966; ext. 223; Fax: +1-(416)-866-8829;
Email: ja@verdepotash.com