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People & Business :: Companies

Yara Ups Potash Stake

7:46 AM MDT | May 21, 2012

Yara International has agreed to increase its ownership in Ethiopotash BV from 16.67%, to 51%. Yara entered into an initial agreement in 2009 with XLR (Cyprus) and Seftech (New Delhi) to participate in the Ethiopotash project. Yara will take over the management of the company, and XLR will hold the other 49%. Ethiopotash is developing a potash resource at Dallol in the Danakil Depression of Ethiopia. Drilling started at the site in 2010, and most drilling and drilling-related activities have been completed. A feasibility study is due to be completed in mid-2013...

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