Canadian potash producer Brazil Potash (GRO.US) has submitted an application to the New York Stock Exchange for an initial public offering (IPO) to raise up to $100 million.

Canadian potash producer Brazil Potash (GRO.US) submitted an application to the U.S. Securities and Exchange Commission on Tuesday, aiming to raise up to $100 million through an initial public offering. The company is developing a potash mining project in the Amazon basin in Brazil. Brazil Potash is a mineral exploration and development company focused on a potash mining project in the state of Amazonas, Brazil. The company is currently in the pre-revenue development stage, working to obtain necessary permits and licenses to begin construction on the project. Once operational, the company plans to mine and process potash ore from underground mines and sell potash domestically in Brazil, aiming to reduce Brazil's significant reliance on imported potash. The company believes that its strategic location near the Amazon river system and connection to Brazil's national grid will give it a cost and carbon emissions advantage over international potash suppliers. The company, headquartered in Toronto, Canada, was founded in 2006 and plans to list on the New York Stock Exchange. Cantor Fitzgerald, Bradesco BBI, Freedom Capital Markets, and Roth Capital are the joint bookrunners for this transaction.