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Woodsmith Polyhalite Project: Anglo American‘s Takeover of Sirius Minerals Completed

Anglo American, through its wholly-owned subsidiary Anglo American Projects UK Ltd., has recently completed the acquisition of Sirius and its Woodsmith polyhalite project in the UK. “Today marks a new chapter for the Woodsmith Project, the employees of the business and everyone who has an interest in its future,“ Mark Cutifani, Chief Executive of Anglo American, commented on the completion of the takeover, adding that „this is a project with clear potential as a Tier 1 supplier of premium quality, low carbon fertiliser to help meet food demand for a fast growing global population.“
The boards of Sirius Minerals Plc, Anglo American plc and Anglo American Projects UK Limited (Bidco) announcedon 20 January 2020 that they had reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Sirius by Bidco, to be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the Scheme).The Court sanctioned the Scheme on 13 March 2020 and the Scheme became effective from 17 March 2020.
“Anglo American brings greater certainty to the business and the development of the Woodsmith Project, building upon our long experience in the global fertiliser market covering most of the last 50 years,“ the company‘s CEO said.„The project itself offers the prospect of sustained employment and economic stimulus for North Yorkshire and Teesside for many decades to come and, when the mine is ramped up, a boost in exports to benefit the wider British economy. … We share a vision of working towards a smarter future for mining – a safer future with a smaller environmental footprint to ensure that we can supply the essential metals and minerals the world needs, and do so sustainably. The Woodsmith Project exemplifies this approach.“

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