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Yara International To Sell Stake In Ethiopia Mining Project To XLR Enterprises

Yara International ASA (YARIY.PK), a Norwegian chemical company, said on Monday that it has inked a deal with XLR Enterprises Limited, to sell its ownership interest in the Dallol mining project in Ethiopia.

Towards this, Yara has recognized an impairment loss of $232 million for fourth quarter of 2021.

The Dallol mining project comprises a planned Sulphate of potash (SOP) mine in the Afar region of the African country.

Norwegian company has been the majority shareholder in the project, with XLR Enterprises Limited and Liberty Metals and Mining Holdings, LLC as partners.

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