Brazil Potash Appoints Sergio Leite as President of Its Subsidiary Potássio do Brasil
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Sergio Leite
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Brazil Potash has appointed Sergio Leite as president of Potássio do Brasil, the company’s wholly-owned Brazilian subsidiary responsible for the development and construction of the Autazes Potash Project.
“Sergio Leite brings more than 40 years of executive experience successfully delivering large-scale steel plants, mining and infrastructure projects for which he raised billions in capital by leading negotiations with key stakeholders. His extensive background positions him ideally to advance the Autazes Project as we accelerate our path to construction,” said Matt Simpson, chief executive officer of Brazil Potash.
Throughout his distinguished career, Sergio Leite has demonstrated exceptional capability leading teams that raised billions of dollars to fund the construction of large-scale projects mainly in the mining sector. As chief executive officer of Companhia Siderúrgica do Pecém, a joint venture between Vale and Korean steel companies POSCO and DongKuk, he led a team that negotiated a $2.9 billion loan contract with a pool of banks including Brazil’s BNDES, Korean Export Credit Agencies, and a syndicate of eight banks.
As CEO of BAFER - Bahia Ferrovias, Leite led efforts to secure substantial funds to support railway infrastructure development. His extensive experience also includes senior roles at Vale, where he served as operational director, CEO of Vale Oman, and Institutional Relations and Sustainability Director, developing strong networks with key government ministries and regulatory authorities.
“I am honored to join Brazil Potash at this pivotal moment in the company’s development,” said Sergio Leite.
“The Autazes Project represents a transformational opportunity for Brazil’s agricultural sector and food security. I look forward to leveraging my relationships with BNDES and other important banks, government authorities, and international financial institutions to help secure the funding needed to build Brazil’s premier domestic potash operation,” added Leite.
Brazil Potash is developing the Autazes Project to supply sustainable fertilizers to one of the world’s largest agricultural exporters. The potash produced will be transported primarily using low-cost river barges on an inland river system in partnership with Amaggi, one of Brazil’s largest farmers and logistical operators of agricultural products. With an initial planned annual potash production of up to 2.4 million tons per year, Brazil Potash’s management believes it could potentially supply approximately 20 percent of the current potash demand in Brazil. Management anticipates 100 percent of Brazil Potash’s production will be sold domestically to reduce Brazil’s reliance on potash imports while concurrently mitigating approximately 1.4 million tons per year of GHG emissions.
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