Anglo American is hosting several analysts and investors on a visit to its Crop Nutrients business.
The Crop Nutrients business is centred around the Woodsmith polyhalite fertiliser project located eight kilometres south of Whitby in North Yorkshire, United Kingdom.
At the site, polyhalite ore will be extracted from underground and transported to Teesside, UK by a conveyor belt in a tunnel. Anglo American said this method will minimise any environmental or surface impact.
The visit taking place this week is expected to highlight the Woodsmith project’s design as a modern underground mine that will produce a natural mineral fertiliser product, POLY4.
The major miner said that POLY4 has a low carbon footprint, is certified for organic usage and enables farmers to increase crop yield, enhance crop quality and improve soil structure.
Anglo American chief executive officer (CEO) Duncan Wanblad said that the Woodsmith project is a great example of a world-class asset that’s located within a low-risk jurisdiction and offers long term value-adding growth.
“Our primary business objective is to secure, develop and operate a portfolio of high quality and long-life mineral assets, from which we will deliver leading shareholder returns, and do so responsibly,” he said.
“Woodsmith has major structural advantages given the sheer size and high quality of the orebody and its proximity to logistics. Its scale, low operating costs, low SIB (stay in business) capex, and the clear potential for a premium product price are expected to generate significant cash flow for many decades.
“Our diversified portfolio caters to three critical demand trends, with Woodsmith expected to become a cornerstone asset that contributes to our programme of margin-enhancing growth.”
Anglo American Crop Nutrients business CEO Tom McCulley added that the POLY4 fertiliser is positioned to help solve three key challenges the agricultural industry is facing: the increasing demand for food from less available land, the need to reduce the environmental impact of farming, and the deteriorating health of soils.