According to the announcement of Anglo American’s annual results, the Woodsmith Project is assigned to acquire more investment as it advances to reaching polyhalite by 2027.
Currently, the project is constructing two deep mine shafts over a mile deep near Sneaton, south of Whitby and a 37km-long tunnel to a processing area at Wilton on Teesside.
After the investment of £400 million in 2022, it has also been revealed that the capital expenditure for this year will be £650 million and nearly £800 million per year for the following three years – a considerable investment for the local area.
Presently, the project hires more than 1,650 people at its sites in Whitby, Teesside and Scarborough, with the majority being from the local surrounding communities.
In addition, a recent investigation has indicated that the Project contributed £ 222 million to the Yorkshire and North East economies last year and more than £ 1.2 billion since it started.
CEO of Anglo American’s Crop Nutrients business, Tom McCulley, declared: “Anglo American’s purpose is to re-imagine mining to improve people’s lives, and with the Woodsmith project we are truly delivering on this.
He added: “As well as the direct economic impact of the project, we also support broader long-lasting social benefits as part of our thriving communities’ program. Real lives are changing – in the last two years we supported over 150 people in the area to find employment or to set up their own business as well as engaging nearly 9,000 young people in the area through our work with local schools.”
“Progress has really ramped up at the project over the last year; the tunnel is over halfway at 22km, the intermediate shaft at Lockwood Beck is complete and the shafts at Woodsmith Mine and Ladycross making great headway,” stated McCulley.
He also claimed: “This confidence from the Anglo American board shows the belief in the project and our POLY4 polyhalite product that will help to solve challenges in the global agricultural industry and also has a significantly lower carbon footprint than competing fertilizers.”
“This is a mining project that has been designed like no other – with great care placed on the design to deliver minimal surface impact. Whilst our product will make a positive difference to the global fertilizer markets, we also look forward to continuing our work in the local community where we have made a real difference to local people and businesses,” continued Tom McCulley.
Woodsmith project’s benefits at a glance: