Coloured Ties Capital

Coloured Ties Capital Inc. is a Canadian natural-resources company associated with mining, fertilizer production and specialty chemicals. The company was formerly known as GrowMax Resources and adopted the Coloured Ties Capital name in November 2021. Its historical business focus centered on the Bayovar project in northern Peru, where its subsidiary GrowMax Agri Corp. pursued the development of a potash and specialty-minerals operation based on brine resources in the Sechura Desert. The Bayovar concession covers approximately 202,600 acres, or about 82,000 hectares. GrowMax obtained rights to the concession from the Peruvian government and arranged surface access with the local community for an initial 33-year term, with an option described as extending the arrangement to as much as 100 years. The project is located near Peru’s existing phosphate and transportation infrastructure, including the Bayovar and Paita ports, the Pan-American Highway, the Interoceanic Highway and Piura Airport. These connections were presented as potential advantages for moving fertilizer and mineral products to domestic and international markets. GrowMax’s development concept relied on solar-pond evaporation to recover minerals from brine. The Sechura Desert’s exceptionally dry climate was considered suitable for this process, which can require less infrastructure and lower capital expenditure than some conventional or solution-mining methods. Earlier investigations at the site had included drilling, reservoir testing, experimental evaporation ponds, pumping studies, metallurgical work and laboratory simulations. A pilot facility constructed during the site’s earlier development reportedly produced high-purity potassium chloride and potassium sulphate. The planned product portfolio included potassium chloride and potassium sulphate fertilizers, as well as magnesium chloride, calcium sulphate, sodium chloride, bromine, phosphate, diatomite, lithium and nitrates. The company described an initial objective of producing approximately 250,000 tonnes of potash fertilizer annually, with a possible later expansion to 500,000 tonnes per year. The supplied reference material does not establish that these production targets were achieved or that the proposed plant entered commercial operation. A significant historical relationship involved the Indian Farmers Fertiliser Cooperative Limited, commonly known as IFFCO. In 2010, GrowMax entered a joint-venture arrangement under which IFFCO held a 20 percent interest in GrowMax, while the former Americas Petrogas interest was described as 80 percent. IFFCO was also expected to have board representation and to purchase half of the Bayovar project’s annual potash output. The reference material does not provide current ownership, management, production, financial, listing or operational information for Coloured Ties Capital after the 2021 name change. Accordingly, the company’s present business status and the continuing status of the Peruvian project require verification.

The business now identified as Coloured Ties Capital is historically linked to the GrowMax Resources and Americas Petrogas names. Its principal documented development concept was the Bayovar project in the Sechura Desert of northern Peru. The project involved a large concession of approximately 202,600 acres, equivalent to roughly 82,000 hectares, with access rights obtained from the Peruvian government. Surface access was arranged with the local community for an initial 33-year period, subject to an option described as extending the term to as much as 100 years. The mineral property had a longer exploration history before GrowMax’s involvement. Texada Mines initially explored the concession, after which it was acquired by Kaiser Chemical in the 1960s. Kaiser carried out extensive technical work, including geological mapping, surface and subsurface investigations, core drilling of reservoirs, testing of supply ditches, well pump tests, experimental evaporation-pond construction, metallurgical and chemical studies, and laboratory modelling of solar evaporation. Kaiser also built a pilot plant at the property. The pilot work reportedly demonstrated the production of high-quality potassium chloride, with stated purity of 99 percent KCl, and potassium sulphate. GrowMax’s proposed development strategy was based on recovering minerals from brine through solar-pond evaporation. The arid conditions of the Sechura Desert were considered favorable for natural evaporation and for a process that could be established with lower capital requirements and a shorter setup period than certain conventional or solution-mining alternatives. GrowMax planned an initial potash-fertilizer facility with a target capacity of approximately 250,000 tonnes per year and identified a potential later expansion to 500,000 tonnes per year. The project’s intended output was not limited to one fertilizer. The company identified potassium chloride and potassium sulphate as key products, while also studying magnesium chloride, calcium sulphate, sodium chloride, bromine, phosphate, diatomite, lithium and nitrates. This broader resource concept was intended to support a portfolio of fertilizers, industrial minerals and specialty chemicals derived from the concession’s brine and associated mineral resources. The proposed operation benefited from its proximity to infrastructure. The concession was described as being near the Bayovar phosphate development and within reach of the Port of Bayovar and Port of Paita. The Pan-American Highway provided links north and south through Peru and onward toward other parts of the Americas, while the Interoceanic Highway connected the region with Brazil, Chile and Bolivia. Piura Airport was also described as approximately 60 kilometres from the project’s centre. In February 2010, GrowMax announced a joint venture with the Indian Farmers Fertiliser Cooperative Limited, or IFFCO. The arrangement described Americas Petrogas as holding 80 percent of GrowMax and IFFCO as holding the remaining 20 percent. IFFCO was expected to have representation on GrowMax’s board and to purchase half of the proposed annual potash production. The reference material characterizes IFFCO as a major Indian fertilizer cooperative with a large farmer membership and substantial fertilizer output, making the relationship a potential source of market access and project support. GrowMax also retained the services of Luis Coronel and Vicente Palacio, chemical engineers who had worked on the property during the Kaiser Chemical period. Coronel was identified as president of LAC Business Group, a consultancy focused on solar-evaporation technology. Their historical knowledge was relevant to the project’s brine-processing plans and to the interpretation of earlier pilot-plant results. The company later changed its name. In November 2021, GrowMax Resources adopted the Coloured Ties Capital name. The supplied reference does not establish whether the Bayovar project reached construction or commercial production, nor does it provide current information on ownership, leadership, financial performance, exchange listing or the company’s operating status after the renaming. Those matters remain to be verified from current corporate or regulatory sources.

• 2021

  Name changed to Coloured Ties Capital

  [1]Coloured Ties Capitalen.wikipedia.org

  GrowMax Resources adopted the Coloured Ties Capital name in November.

• 2010

  IFFCO joint venture announced

  [1]Coloured Ties Capitalen.wikipedia.org

  GrowMax announced a partnership with the Indian Farmers Fertiliser Cooperative Limited, which was described as taking a 20 percent interest and planning to purchase half of the proposed potash output.

• 1960

  Kaiser Chemical investigates the concession

  [1]Coloured Ties Capitalen.wikipedia.org

  After earlier exploration by Texada Mines, Kaiser Chemical acquired the concession and conducted extensive geological, engineering, metallurgical and solar-evaporation studies.

Historically positioned as a Canadian resource-development company pursuing low-cost solar-evaporation production of potash, fertilizers and specialty minerals from brine resources in Peru.

• Fertilizer

  Potassium chloride

  Potassium chloride was identified as one of the principal proposed products of the Bayovar project. Earlier pilot work at the concession reportedly produced potassium chloride at 99 percent purity. GrowMax planned to recover the material from brine using solar-pond evaporation, although the available material does not confirm commercial production.

• Fertilizer

  Potassium sulphate

  Potassium sulphate was another central fertilizer product identified in the Bayovar development concept. Historical pilot testing reportedly demonstrated production of the compound, while the planned commercial operation was intended to use solar evaporation and associated brine-processing techniques.

• Industrial minerals

  Specialty minerals and chemicals

  The project’s broader mineral inventory included magnesium chloride, calcium sulphate, sodium chloride, bromine, phosphate, diatomite, lithium and nitrates. These materials were presented as potential specialty-chemical or industrial-mineral outputs alongside the main potash products.

• 2021

  Corporate name changeStrategy

  Background

  The company had operated under the GrowMax Resources name and was associated with the Bayovar fertilizer and specialty-minerals project.

  Action taken

  The company adopted the Coloured Ties Capital name in November 2021.

  Aftermath

  The available reference does not explain the strategic rationale for the renaming or document the company’s subsequent operating position.

  Source

1. 1Coloured Ties Capitalen.wikipedia.org