Brazil Potash signs Kimia offtake capped at ~704,000 tpy for 10 years

Rhea-AI Filing Summary

Brazil Potash Corp. (GRO) announced that subsidiary Potássio do Brasil Ltda. signed a definitive take-or-pay offtake agreement with Kimia Solutions Ltda. Kimia agreed to purchase between 23%–32% of annual potash production, capped at approximately 704,000 tonnes per year. The specific percentage will be fixed before project construction and no later than one year after execution or the final investment decision, whichever occurs first.

The agreement starts at commercial production ramp-up, runs for ten years, and may be extended by mutual consent. Pricing references prevailing CFR Brazil market indexes with logistical and performance adjustments. Payments are cash-against-documents unless an acceptable standby letter of credit is provided. The contract includes performance reviews, take-or-pay penalties, quality standards, force majeure, compliance provisions, and targeted termination rights. PDB may assign receivables to support project financing, and Brazil Potash Corp. and PBF Participações Ltda. may provide support and guarantees under separate instruments.

Insights

Project finance and commodities offtake analyst

Long-term offtake secures demand for a material share of output.

The agreement commits Kimia to buy 23%–32% of annual production, capped at approximately 704,000 tonnes per year, on a take-or-pay basis. Take-or-pay structures typically reduce volume risk by requiring payment for contracted volumes, supporting bankability for project finance.

Key commercial terms include a ten-year initial term starting at ramp-up, pricing linked to CFR Brazil indexes with defined adjustments, and payment via cash‑against‑documents or standby letter of credit. These mechanisms align cash collection with shipment documentation and provide credit support options.

The contract permits assignment or pledging of receivables, which can facilitate financing once production commences. Actual impact depends on the final fixed percentage within the disclosed range and the project’s progress toward construction and commissioning as referenced in the company’s forward-looking statements.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2025

Commission File Number: 001-42423

BRAZIL POTASH CORP.

(Translation of registrant’s name into English)

198 Davenport Road

Toronto, Ontario, Canada, M5R 1J2

Tel: +1 (416) 309-2963

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

☒ Form 20-F   ☐ Form 40-F

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

On October 28, 2025, Potássio do Brasil Ltda. (“PDB”), a subsidiary of Brazil Potash Corp. (the “Company”), entered into a definitive take-or-pay offtake agreement (the “Agreement”) with Kimia Solutions Ltda. (“Kimia”).

Under the Agreement, Kimia agreed to purchase between 23% and 32% of PDB’s annual potash production, subject to a cap of approximately 704,000 tonnes per year, on a take-or-pay basis. The precise percentage within that range will be fixed prior to the start of project construction and not later than one year following execution or the final investment decision, whichever occurs first. Deliveries will commence with the start of commercial production and ramp up to full production levels.

The Agreement has an initial term of ten years beginning with the commencement of ramp-up and may be extended by mutual written consent. Sales will be priced in accordance with a formula set out in the Agreement that references prevailing CFR Brazil market indexes, subject to specified logistical and performance adjustments. Payments are to be made on a cash-against-documents basis unless Kimia provides and acceptable standby letter of credit from a top-rated financial institution.

The Agreement provides for customary provisions relating to performance reviews, take-or-pay penalties, product quality standards, force majeure, confidentiality, anti-corruption compliance, and termination rights. Either party may terminate the Agreement in limited circumstances, including insolvency, uncured material breach, frustration of purpose, or extended force majeure. PDB may assign or pledge receivables arising under the Agreement to finance project development.

Brazil Potash Corp. and PBF Participações Ltda. may provide support and guarantee undertakings under separate instruments as contemplated in the Agreement.

The foregoing is only a brief description of the material terms of the Agreement and does not purport to be a complete statement of the rights and obligations of the parties under the Agreement and the transactions contemplated thereby, and is qualified in its entirety by the full text of the Agreement, a copy of which is attached as Exhibit 10.1 hereto and is incorporated by reference herein.

On October 28, 2025, the Company issued a press release announcing the Agreement, a copy of which is attached to this Form 6-K as Exhibit 99.1.

The information and exhibits set forth in this Form 6-K shall be deemed to be incorporated by reference into the Company’s Registration Statements on Form F-1 (File No. 333-287711) and Form S-8 (File No. 333-286827 and File No. 333-288029) (including any prospectuses forming a part of such registration statements) and to be a part thereof from the date on which this Form 6-K is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

Cautionary Note Regarding Forward-Looking Statements

This Form 6-K contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “will,” “expects,” “believes,” “designed to,” “anticipates,” “future,” “intends,” “plans,” “potential,” “estimates,” “confident,” and similar terms, or the negatives of these terms. These statements include, without limitation, statements regarding the Company’s offtake arrangements, project development plans, construction and commissioning timelines, commencement of production and ramp-up to capacity, logistics and delivery plans, pricing and reconciliation mechanics (including any marketing fee or profit-sharing features), financing strategy (including assignment of receivables or other credit support), and the expected benefits, outcomes, or timelines related to any of the foregoing.

Forward-looking statements are based on the Company’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Important factors include, among others: the Company’s ability to obtain required project financing on acceptable terms and timing; receipt and maintenance of permits, approvals and authorizations; successful engineering, construction, commissioning and ramp-up of the Autazes project; performance by contract counterparties under offtake and related arrangements (including any credit support obligations); logistics risks (including barging, warehousing, transport capacity and river or weather conditions); compliance with product quality/specification requirements and related testing/claims processes; commodity price volatility and benchmark/basis risk; inflation, input cost pressures and foreign exchange rates; changes in laws and regulations (including anti-corruption and trade rules) and the legal/regulatory environment in relevant jurisdictions; force majeure events; availability and cost of labor, equipment and services; litigation or disputes; and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in the Company’s Annual Report on Form 20-F for the year ended December 31, 2024, filed on March 28, 2025, and Amendment No. 1 to the Form 20-F, filed on April 9, 2025, as well as the Company’s subsequent filings.

You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this report. Except as required by law, Brazil Potash Corp. undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

EXHIBIT INDEX

Exhibit No.		Description
10.1		Take or Pay Contract between Potassio do Brasil Ltda. and Kimia Solutions Ltda., dated October 28, 2025*
99.1		Press Release dated October 28, 2025

* Certain portions of this exhibit have been redacted as they are both not material and are of the type of information that the registrant treats as private or confidential. The omissions have been indicated by “[***]”. The Company agrees to furnish supplementally an unredacted copy of the exhibit to the SEC upon its request.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				BRAZIL POTASH CORP.
Date: October 29, 2025				By:		/s/ Matthew Simpson
				Name: Matthew Simpson
				Title: Chief Executive Officer

FAQ

What did Brazil Potash Corp. (GRO) announce on this 6-K?

A definitive take-or-pay offtake agreement between Potássio do Brasil Ltda. and Kimia Solutions Ltda. covering a portion of future potash production.

How much production is covered in the Brazil Potash (GRO) offtake?

Kimia agreed to purchase between 23% and 32% of annual production, subject to a cap of approximately 704,000 tonnes per year.

What is the term of the Brazil Potash and Kimia offtake agreement?

An initial ten-year term beginning with production ramp-up, with potential extension by mutual written consent.

How are sales priced under the Brazil Potash (GRO) offtake?

Pricing follows a formula referencing prevailing CFR Brazil market indexes, with specified logistical and performance adjustments.

What are the payment terms in the Brazil Potash offtake?

Payments are on a cash-against-documents basis unless Kimia provides an acceptable standby letter of credit from a top-rated financial institution.

Can receivables be used for financing the Brazil Potash project?

Yes. PDB may assign or pledge receivables arising under the agreement to finance project development.

Are there take-or-pay penalties and termination rights?

Yes. The agreement includes customary take-or-pay penalties, quality standards, force majeure, compliance clauses, and limited termination rights.