Oslo, 1 August 2021: Yara has signed a Share Purchase Agreement with EuroChem to sell its Salitre phosphate mining project for a cash consideration of USD 410 million. Yara’s ongoing transformation has a strategic focus on food solutions, premium products and enabling the hydrogen economy. Salitre remains an attractive project, but as previously communicated the project progress has been impacted by Covid 19, and significant construction time and capital expenditure remains to reach completion. The Salitre divestment therefore supports Yara’s transformation by reallocating capital and risk appetite in the coming years towards Yara’s strategic focus areas.

By A Silva