The government announced on Monday that permit cancellations, as well as a sweeping prohibition on open-pit mining, were needed due to harm the extractive sector poses to natural resources, public health and water access.

The potential of potash production in the Amazon Basin is similar to the Urals region, in Russia, and Saskatchewan, in Canada, according to the state geological survey.

The world’s biggest supplier saw output slide 7.5% from January 2021, with lower ore quality and water scarcity among the reasons.

"The market is in a panic mode in terms of supply" as warehouse inventories hit 16-year low.

The miner had planned to start site works in the second half of 2021, but had to postpone the move and prioritize reducing debt.

The world's No. 2 lithium producer, reported a nearly five-fold rise in profits in the fourth quarter.