MBAC Fertilizer Corp.

MBAC Fertilizer Corp.

December 06, 2010 07:00 ET

MBAC Appoints Chief Operating Officer

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2010) - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC) is pleased to announce the appointment of Mr. Roberto Busato Belger as Senior Vice President and Chief Operating Officer (COO) of MBAC. Mr. Belger will assume the role of Senior Vice President and COO effective December 16, 2010.

Mr. Belger brings over 32 years of experience in fertilizer operations and mine management, primarily in Brazil. Mr. Belger is a mining engineer and, most recently, was Chief Operating Officer of Fosfertil Fertilizantes SA. Fosfertil is Latin America´s largest supplier of phosphate and nitrogen based inputs for fertilizer production. Mr. Belger has held various roles within the Bunge Group including the positions of CEO of Bunge´s fertilizer business in Argentina, Industrial Director, Chief Information Officer, Director of Strategic Planning, Board member of Bunge´s associate companies, Industrial Manager of Mining and Chemical Complexes and Manager of Engineering and Technology. Mr. Belger graduated from UFRGS Brazil in Mine Engineering, and completed post-graduate studies in Mineral Processing at Escola Politécnica-USP- Brazil, Information Technology at MIT in the United States, and Management Accounting at FGV- Brazil.

Antenor Silva, President and CEO, stated: "I am extremely pleased that MBAC was able to attract a person of Roberto's caliber and experience. I believe that this only confirms our view that MBAC is well on its way to becoming a significant player in the Brazilian fertilizer market. Roberto brings a wealth of knowledge in the areas of operations, strategy and sales, and will be an excellent complement to the team in the continued development and commissioning of the ItafÏŒs Expansion Project".

About MBAC

MBAC is focused on becoming a significant integrated producer of phosphate and potash fertilizers in the Brazilian and Latin American markets. MBAC has an experienced team with over 150 years of combined experience in the business of fertilizer operations, management, marketing and finance within Brazil. In October 2008, MBAC acquired Itafós Mineração Ltda, which consisted of a phosphate mine, a mill and plant and related infrastructure, all located in central Brazil. MBAC's exploration portfolio includes a number of additional phosphate and potash projects, which are also located in Brazil. MBAC is well funded with approximately C$60 million, which will be used to develop the Itafós Expansion Project. The Company continues to search for additional fertilizer opportunities in the Brazilian and other Latin-American markets, where strong agricultural fundamentals and unique opportunities are expected to provide attractive growth opportunities in the near future. All material information on MBAC can be found on the Company's website at or at SEDAR at

Antenor Silva
President & Chief Executive Officer


This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.

Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future commodities' price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although MBAC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Symbol: MBC:TSX
Shares Outstanding: 72,689,336
Fully Diluted: 79,812,886

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