Yara decision to halt development of Sokli mining investment
Sep 14, 2015
Oslo, 14 September 2015: Yara International ASA has made a preliminary decision to halt development of its Sokli mining project in Finland, due to the anticipated profitability of the project being below Yara's requirement.
Before concluding, Yara will seek to finalize the process of obtaining environmental and mining permits and clarify other prerequisites for project execution. Yara may also re-evaluate the project in the future.
The book value of Yara's Sokli investment is EUR 18.5 million.
Thor Giæver, Investor Relations
Telephone: (+47) 24 15 72 95
Cellular: (+47) 480 75 356
Bernhard Stormyr, Media Relations
Cellular: (+47) 90 10 76 85
Yara's knowledge, products and solutions grow farmers' and industrial customers' businesses profitably and responsibly, while nurturing and protecting the earth's resources, food and environment.
Our fertilizers, crop nutrition programs and technologies increase yields, improve product quality and reduce the environmental impact of agricultural practices. Our industrial and environmental solutions improve air quality by reducing emissions from industry and transportation, and serve as key ingredients in the production of a wide range of goods. We foster a culture that promotes the safety of our employees, contractors and societies.
Founded in 1905 to solve emerging famine in Europe, today, Yara has a worldwide presence, with more than 12,000 employees and sales to more than 150 countries.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)