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Orica takes 45 pct stake in new ammonium nitrate plant
March 1, 2012 / 2:26 AM / 6 years ago

Orica takes 45 pct stake in new ammonium nitrate plant

MELBOURNE, March 1 (Reuters) - Orica Ltd, the world’s top maker of explosives for mines, has signed a deal to take a 45 percent stake in an ammonium nitrate plant it will build in Western Australia with Norway’s Yara and Apache Corp.

The joint venture aims to start construction on the 330,000 tonnes-a-year ammonium nitrate plant by mid-2012, looking to supply the Pilbara region, where giants Rio Tinto and BHP Billiton mine iron ore.

Orica will manage sales and distribution, while Yara will operate the plant. (Reporting by Sonali Paul; Editing by Muralikumar Anantharaman)

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