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We have made an exciting step in our journey to support a cleaner, greener, more sustainable world after securing the Woodsmith Project in North Yorkshire – the world’s largest known high-grade polyhalite deposit.

The Woodsmith Project - part of our Crop Nutrients business - is a natural fit for our portfolio as it supports our transition towards those metals and minerals that will meet the world’s evolving needs – including infrastructure and food – to support a fast-growing global population.

Polyhalite is used in fertilisers and can be mined through a relatively simple, low-energy, non-chemical production process. POLY4 is the product name of the fertiliser which will continue to be produced at the Project.

A strategic fit

Mark Cutifani, Chief Executive, summarises the acquisition of the Woodsmith Project, how it fits strategically in our existing portfolio and its potential for the future.

Progress and the future

The Woodsmith Project has been successfully progressed over several years, with $1.1 billion already invested in the physical mine development, and we look forward to working with the team to build on their progress going forward.

During this first two-year period, we expect to invest approximately $300 million per year in developing the Project.

In developing this multi-billion-pound project, there is clear potential for substantial and sustained economic development, including job creation in the region, both directly and indirectly.

As a sign of our commitment to support the sustainable development of the communities around the Project, we are making a voluntary contribution of £4 million to the Sirius Minerals Foundation, the £1 million to be paid following completion of the acquisition is being processed and a further £1 million will be paid annually for the next three years.

We want to ensure that the local communities of North Yorkshire and Teesside benefit from the Project economically and socially, in line with the stretch goals included within our Sustainable Mining Plan.

POLY4

POLY4 is the product name used for the Woodsmith Project’s naturally occurring, low chloride, multi-nutrient fertiliser certified for organic use.

It includes four of the six key macro nutrients that all plants need to grow: potassium, sulphur, magnesium and calcium; has no requirement for chemical processing and has the lowest CO2 emissions compared to other fertiliser products.

POLY4 is an efficient and effective fertiliser that allows farmers to maximise their crop yield, increase quality and improve soil structure with one simple product.

Leadership

Chris Fraser

CEO, Crop Nutrients

Chris Fraser

CEO, Crop Nutrients

Chris has over 20 years’ experience in the mining industry with a focus on financing and strategic developments. During his finance career he worked for Rothschild and KPMG and Citigroup, where he was Head of Metals and Mining Investment Banking for Australia in 2006 and Managing Director in 2008. Chris was the lead advisor on US$2.5bn initial development capital financing for Fortescue Metals Group Ltd. He started the Woodsmith Project under York Potash Ltd in 2010.

Contact

Resolution House
Lake View
Scarborough
YO11 3ZB
01723 470 010

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