Potassio do Brasil announced it has discovered over 1 billion tons of potash in the Amazon region of the country.
After the discovery, executive director Helio Diniz they are thinking about making an initial public offering on the Brazilian stock market.
Diniz estimated the company should begin potash production by 2015 or 2016, with output of around 2 million tons a year.
Assuming the numbers are close to accurate, this is a big find for Potassio do Brasil and the country, which has had to import about 90 percent of its potash.
Potash demand and price are expected to rise once the recession is over and sustainable demand begins again. That will probably increase for many years into the future.