Looking for a specific product?

Make a search for products & suppliers, articles & news.

Yara acquires controlling stake in Burrup Holdings

Yara today acquired 16% of Burrup Holdings Limited (BHL) for USD 143 million, increasing its ownership share in the company to 51%. Concurrently, Apache Energy has acquired the remaining 49% of the shares in BHL, and signed a new shareholders' agreement with Yara.

"We are pleased to secure majority ownership in our Burrup activity and enter a closer cooperation with Apache Energy, representing another important step in Yara's strategic growth ambitions. Today marks the end of a challenging period for what we have always regarded as a world-class asset, and we look forward to integrating Burrup fully into Yara's global production system. Furthermore, today's agreement allows us to intensify work on the planned technical ammonium nitrate (TAN) project in the Burrup peninsula together with Apache", says President and CEO Jørgen Ole Haslestad.

The wholly-owned BHL subsidiary, Burrup Fertilisers Pty Ltd (BFPL), operates an ammonia plant completed in 2006 and located at the Burrup Peninsula in Western Australia, with an annual production capability of approximately 850,000 metric tons. BFPL entered into a revised long-term natural gas supply contract with Apache Energy in November 2011.

The Burrup Nitrates project will now proceed with 75.5% Yara ownership and 24.5% Apache ownership, to construct a TAN plant with annual nameplate capacity of 330,000 metric tons in close proximity to the existing Burrup ammonia plant. The proposed TAN plant's close proximity to the Pilbara mining industry together with adjacent ammonia supply gives it a distinct advantage over other ammonium nitrate suppliers. Yara has an agreement to market the entire output from the plant.

"We will re-name our Burrup activity to Yara Pilbara, marking a more active role for Yara in the region as we move swiftly to establish Yara standards of corporate governance. We now look forward to working with public and private stakeholders to shape and strengthen the long-term future of the Pilbara region", says President and CEO Jørgen Ole Haslestad.

Associated companies:


Related news

Latest news

Eimskip strengthens its worldwide forwarding services by acquiring the logistics company SHIP-LOG A/S in Denmark

Eimskip has strengthened its position in worldwide logistics services by acquiring 75% of the freight forwarding company SHIP-LOG. 

For Sale Assets from the former BMV LAKSEVÄG YARD in Bergen, Norway!

For Sale Assets from the former BMV LAKSEVÄG YARD in Bergen, Norway! The entire shipbuilding and fabricating facility is closing and more than 500 lots is on sale.

Servogear CPP for Seasight II - Future of the Fjords

We are proud to announce that Servogear has been chosen for the delivery of Servogear...

TechnipFMC Signs Agreement with Pall to Supply Slurry Oil Filtration Systems for Fluid Catalytic Cracking Units

The associated activities will be managed by TechnipFMC Process Technology’s center in Houston,

10 Million kroner for verification funding

The Norwegian Research Council has granted 10 million...

Hilti acquires Oglaend System Group

Oglaend System’s headquarters will remain in Klepp, 

DOF Subsea AS ("DOF Subsea" or the "Company") today announces its intention to launch an initial public offering (the "IPO") of its ordinary shares and to apply for a listing on Oslo Børs

NOT FOR DISTRIBUTION OR RELEASE,

DOF Subsea North America extends charter for Jones Act Compliant vessel Harvey Deep Sea

The Harvey Deep Sea Vessel is a Multi-Purpose DPII Construction,

Untrue rumours about an on-going incident at the Halden Research Reactor in Norway

The Norwegian Radiation Protection Authority has become aware that stories about an ongoing incident involving a “meltdown” at the Norwegian Institute for Energy Technology (IFE) reactor situated in Halden are currently ci...