# Itafos has received a big loan — Fertilizer Daily

> Canadian company Itafos borrowed $15 million from CL Fertilizers at 15% annual interest to fund working capital and capital investments. Itafos also signed a multi-year phosphate rock supply agreement with Morocco's OCP Group, to be trucked to its Arraias site, where it has idled existing mines, tailings dam and beneficiation plant during site preparation.

- Date: 2019-10-01 · published 2019-10-01T12:00:00.000Z
- Category: trade · region Global · magnitude low
- Page: https://feedsoft.ai/events/56881-itafos-has-received-a-big-loan-fertilizer-daily
- Commodities: [Phosphate Rock](https://feedsoft.ai/c/PHOSROCK.md)

## Why it matters

The OCP supply deal means Itafos will buy phosphate rock rather than mine its own, a supply-side shift for phosphate rock and DAP feedstock with limited direct effect on feed-grade prices.

## Read by commodity

- PHOSROCK: neutral

## Sources

- fertilizerdaily.com: https://www.fertilizerdaily.com/20191001-itafos-has-received-a-big-loan/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.