Yara Announces Sale of Phosphate Mining Project in Minas Gerais for $410 Million

Written by Valdemar Medeiros

Published on 04/08/2021 at 12:46

Projeto Serra do Salitre – Foto: Yara / Divulgação.

Be the first to react!

To Focus on Food Solutions and Other Sectors, Yara Announced the Sale of Its Phosphate Mining Project in Minas Gerais to EuroChem for US$ 400 Million. The Project Has an Estimated Capacity to Produce 1.2 Million Tons of Phosphate Rock

Yara signed with EuroChem a stock purchase agreement aimed at selling its Salitre phosphate mining project in Minas Gerais. The agreement reached a value of US$ 410 million and is part of the company’s strategy to concentrate on food solutions, premium products, and also the viability of the hydrogen sector.

Phosphate Mining Project Impacted by the Pandemic

YouTube video — ETM – Galvani (Yara) – Serra do Salitre, MG

According to Yara, Salitre is still an attractive project for investors, but the progress of the phosphate project has been impacted by the worsening of Covid-19, and the construction time and capital expenses, which are still significant, need to be finalized.

ARTICLE CONTINUES BELOW

Phosphate Project Has Capacity to Produce 1.2 Million Tons Per Year

Yara started the Salitre project in 2014 in the state of Minas Gerais, and its assets include phosphate mining operations, including tailings dams, which estimate a production capacity of 1.2 million tons of rock per year and a project underway for the construction of phosphate processing operations with an estimated production capacity of 1 million tons per year upon completion. The capital expenditure required to achieve the completion of the phosphate project in Minas Gerais is nearly the same size as the value of the agreement.

The transaction is expected to be completed in about six months and is conditioned on obtaining customary closing conditions and the necessary local regulatory approvals. It is noteworthy that Eurochem is already present in the Brazilian fertilizer market through Fertilizantes Tocantins, where it took control last year.

Get to Know Yara Brasil

With the mission of feeding the world and protecting the planet responsibly, Yara is a truly international company with production, service, and sales operations, research, and support in the Americas, Europe, Africa, and Asia, present in around 60 countries.

The company aims to achieve better performance than expected, take the initiative, and work consistently and aligned with its ambitions. Yara was founded in 1905 and has gone through various historical moments in mining, currently employing over 17,000 individuals who contribute to poverty reduction, feed 262 million people, and also help reduce environmental impact.

Yara Announces Sale of Phosphate Mining Project in Minas Gerais for $410 Million

To Focus on Food Solutions and Other Sectors, Yara Announced the Sale of Its Phosphate Mining Project in Minas Gerais to EuroChem for US$ 400 Million. The Project Has an Estimated Capacity to Produce 1.2 Million Tons of Phosphate Rock

Read Also

Phosphate Mining Project Impacted by the Pandemic

Phosphate Project Has Capacity to Produce 1.2 Million Tons Per Year

Get to Know Yara Brasil

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Toyota ends the Diesel era: new Hilux with up to 380 km of urban range brings 196 hp, 59.2 kWh battery, 4×4 traction and 715 kg of load capacity

Magalu has a clearance sale on JBL Boombox 4 with 210W of power, 34-hour battery, and 3-way system.

To try to save a famous tourist beach from being swallowed by the ocean, India will dredge 250,000 cubic meters of sediments from the seabed every year and pump sand through pipelines to rebuild the coast of Visakhapatnam.

Pigment more expensive than gold appears in Roman coffins in England: archaeologists find Tyrian purple in 1,700-year-old funerary textiles and reveal imperial luxury buried in York under chemical traces invisible to the human eye

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

The Pacific seafloor is breaking apart near Canada, and the silently cracking plate may reveal deep secrets about tsunamis, earthquakes, and methane hidden in the ocean.

In Sudan, expensive fuel, queues, and blackouts were stifling drivers, but an engineer created electric tricycles, and some owners even started operating with solar panels on the roof, reducing costs and helping workers to even double their daily income.

Yara Announces Sale of Phosphate Mining Project in Minas Gerais for $410 Million

To Focus on Food Solutions and Other Sectors, Yara Announced the Sale of Its Phosphate Mining Project in Minas Gerais to EuroChem for US$ 400 Million. The Project Has an Estimated Capacity to Produce 1.2 Million Tons of Phosphate Rock

Read Also

Phosphate Mining Project Impacted by the Pandemic

Phosphate Project Has Capacity to Produce 1.2 Million Tons Per Year

Get to Know Yara Brasil

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Toyota ends the Diesel era: new Hilux with up to 380 km of urban range brings 196 hp, 59.2 kWh battery, 4×4 traction and 715 kg of load capacity

Magalu has a clearance sale on JBL Boombox 4 with 210W of power, 34-hour battery, and 3-way system.

A new airport will be built with an investment of R$ 1.8 billion, will have a 3.5 km runway, a 35,000 m² terminal, and will occupy a gigantic area of 30,000 hectares to transform logistics, tourism, and air transport in Gabon.

A 90-day modular home goes viral in Brazil with the promise of a kit starting from R$ 20 thousand, less waste, and a catch that many people only discover after starting construction on their own land.

656 apartments and units starting from R$ 234 thousand will build a new vertical neighborhood in Blumenau, transform Velha Grande in three years, and expand the Minha Casa, Minha Vida program’s investment in the city’s expansion.

WEG created a battery storage system that is transforming an old mine in Finland into a renewable energy hub. The project is one of the first hybrids in the Nordic country to combine solar generation with storage and helps stabilize the national electricity grid.

The most expensive stadium on the planet cost R$ 30 billion to be built in Los Angeles and will host eight games of the 2026 World Cup. The 110-meter screen is larger than the playing field itself, and the roof projects videos that airplane passengers see during landing at the airport.

To try to save a famous tourist beach from being swallowed by the ocean, India will dredge 250,000 cubic meters of sediments from the seabed every year and pump sand through pipelines to rebuild the coast of Visakhapatnam.

Pigment more expensive than gold appears in Roman coffins in England: archaeologists find Tyrian purple in 1,700-year-old funerary textiles and reveal imperial luxury buried in York under chemical traces invisible to the human eye

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

The Pacific seafloor is breaking apart near Canada, and the silently cracking plate may reveal deep secrets about tsunamis, earthquakes, and methane hidden in the ocean.

In Sudan, expensive fuel, queues, and blackouts were stifling drivers, but an engineer created electric tricycles, and some owners even started operating with solar panels on the roof, reducing costs and helping workers to even double their daily income.