Yara halt mining project in Finland, citing profitability issues

Yara to halt mining project in Finland, citing profitability issues

5:35 AM, 15th September 2015
Yara to halt mining project in Finland, citing profitability issues

OSLO, NORWAY: Yara International ASA said it 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.

The book value of Yara’s Sokli investment is €18.5 million.

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, it said.

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