Yara abandons the Dallol potash project

The Norwegian producer of mineral fertilizers Yara International (hereinafter Yara) announced the sale of its share in the Dallol potash project (Ethiopia) to XLR Enterprises. Yara was a majority shareholder along with XLR Enterprises Liberty Metals and Mining Holdings.

The Dallol project provides for the creation of an enterprise for the production of potassium sulfate by developing potash deposits found in the Danakil Depression. Its implementation was suspended in 2019 and has not been resumed since.

Yara’s stake in the Dallol project will be transferred to XLR Enterprises with all economic rights and obligations. The transaction will slightly impact its financial results in 2022.