MBAC Fertilizer Corp. (MBAC) is a Canada-based company engaged in the mining, production and exploration of phosphate and potash fertilizer. The Company operates a small-scale phosphate mine and a mill and treatment plant facility in the State of Tocantins, located in central Brazil (the Itafos Campos Belos Reactive Natural Phosphate (RNP) Operations. The phosphate rock from the Itafos Campos Belos RNP Operations is mined, processed and sold to local farmers for direct application. The Company continues to explore various other assets and phosphate and potash opportunities throughout Brazil, including the development of the Santana phosphate project in Para State, Brazil, (the Santana Project) and the Araxa rare earth oxide-phosphate-niobium project in Minas Gerais State, Brazil (the Araxa Project). As of December 31, 2011, the Araxa Project consisted of four tenements covering 214 hectares of a carbonatite.