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Yara to build Australia explosives plant with partners

March 02/2012

(Reuters) - Norway-based fertiliser maker Yara has tentatively agreed to build an explosives plant on the Burrup peninsula in western Australia with joint-venture partners Orica and Apache, it said on Thursday.

"Yara has signed a heads of agreement with Orica and Apache via joint venture to build a 330,000-metric-tonnes ammonium nitrate plant on the Burrup peninsula and to distribute ammonium nitrate and other explosives products to mining customers in the Pilbara region," the Norwegian firm said.

It said Yara would operate the plant while explosives manufacturer Orica would manage sales and distribution. Each would have a 45-percent stake in the company while oil-and-gas group Apache would have 10 percent.

Final agreement is subject to further negotiation and board approvals, Yara said.
Author:Anna Larionova
Category:General News
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