Yara finalizes the sale of the Salitre phosphate mining project to EuroChem

published by

Global Fertilizer,

Yara announced that its divestiture of the Salitre phosphate mining project in Brazil to EuroChem has been successfully completed and it has received total proceeds of US$452 million.

Serra do Salitre is an integrated, advanced-stage upstream phosphate project in Minas Gerais, southeast Brazil. It includes an open pit phosphate mine with over 350 million tonnes of reserves and a 1 million tpy manufacturing plant for MAP/NP and SSP/TSP products which is expected to come on stream in 2023.

Yara concluded the Salitre project in 2014, and its assets include phosphate mining operations, including a tailings dam, with an annual production capacity of approximately 1,200 kt of phosphate rock and a project under construction of phosphate processing operations with projected production capacity. approximately 1000 kt per year at completion. The estimated CAPEX necessary to achieve completion is of a similar magnitude to the disposal value.

Project progress has been impacted by COVID-19 and significant construction time and CAPEX have yet to be completed, according to Yara.

Read the article online at: https://www.worldfertilizer.com/project-news/23022022/yara-completes-divestment-of-salitre-phosphate-mining-project-to-eurochem/

About William J. Harris

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