Yara has an agreement with Vale to sell its shares in Fosfertil in Brazil for $785 million. Yara will also sell its stake in the Anitapolis phosphate rock project to Vale at the same time.
Yara owns directly and indirectly 15.5 percent of Fosfertil following the acquisition of Fertibras in 2006. Fosfertil is the biggest producer of phosphate and nitrogen fertilizers in Brazil. The company owns three phosphate mines, two ammonia plants and finished fertilizer plants with an upgrading capacity of 3.4 million tons phosphate rock and 0.6 million tons ammonia per year.