Yara to Decide on Sokli in the Coming Weeks, Kauppalehti Says

Yara International ASA (YAR), the Norwegian fertilizer producer, will soon decide whether to transport phosphate ore from Sokli, Finland for refining via pipeline or train, Kauppalehti reported today.

Reports on both options to supply a refinery in Kovdor, Russia will be finished in the coming weeks, said Eero Hemming, Yara’s spokesman, according to the Helsinki-based newspaper. Transporting the ore will be challenging due to temperatures which drop as low as minus 45 degrees Celsius (minus 49 degrees Fahrenheit), said Kauppalehti.

Sokli is estimated to contain 120 million tons of rich 15- percent phosphate ore, which would last for 20 years, Kauppalehti said. Deposits of 4-percent ore may last as long as 100 years at the Lapland site, which could be operational in 2015 at the earliest, Kauppalehti reported.

To contact the reporter on this story: Kasper Viita in Helsinki at kviita1@bloomberg.net

To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net

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