Itafos, Rio Tinto tighten sulphuric acid deal for US ag

Itafos Inc., a phosphate and specialty fertiliser producer listed in Canada and the US, has signed an amendment to its sulphuric acid supply agreement with Rio Tinto’s Kennecott copper business. The amended deal locks in a new pricing basis and more flexible volumes to support US phosphate production at Itafos’ Conda, Idaho plant through 2029, strengthening a relationship that has underpinned unit for more than 30 years.

Under the amended deal, the reference index price used in the contract shifts from the Vancouver index to the Tampa index for the period from 1 May 2026 to 31 December 2029. Over the same period, the parties have agreed an adjusted sulphuric acid price aimed at smoothing out the impact of the sharp sulphur price volatility seen over the last four years. The contract changes are framed as a way to promote long-term value for both the US farming and mining industries by stabilising a critical raw material for domestic phosphate production.