Participation in Anglo American’s Woodsmith Fertiliser Resource Project in the UK

Mitsubishi Corporation (“MC”) is pleased to announce that it has entered into a definitive agreement with Anglo American plc group (Headquarters: United Kingdom; “Anglo American” or “AA”) to invest into the Woodsmith fertiliser resource project in the United Kingdom (the “Project”) and will collaborate with AA as it develops the feasibility study for the Project.

MC and AA have an established partnership across multiple projects, most recently at the Quellaveco copper mine in Peru. Since 2020, AA has been advancing the Project as one of its key future growth areas. Hosting one of the world’s largest polyhalite resources, the Project has the potential to support stable, long-term operations for more than 60 years. Located in Northeast England, it is expected to be one of the UK’s first major new mining projects in many decades.

Polyhalite is a natural mineral fertiliser product containing low-chloride potassium, sulphur, magnesium, and calcium, four of the six essential nutrients plants need for healthy growth. Agronomic trials conducted globally over the past decade have demonstrated superior crop performance including yield improvement and soil enhancement. Polyhalite also offers differentiated value compared with conventional fertilisers, including low chloride content, comparatively lower greenhouse gas emissions from the production process, and organic certification in many countries around the globe. Additionally, the polyhalite ore body in the Project is naturally high grade and does not require beneficiation, resulting in reduced water consumption during operations, and eliminating the generation of mining waste—an important feature that contributes to the Project’s low environmental footprint.

MC will use its experience and resources to contribute to the feasibility study and will jointly conduct pilot sales to validate the marketability of the product and explore opportunities to build out demand for the product. This will support MC assessing whether to participate in and increase its equity exposure at the Final Investment Decision by AA, currently anticipated from 2028. The feasibility study will assess development and operational plans, economic viability, and social and environmental impacts of the Project. In addition to contributing funds for the study, MC will leverage its extensive networks across the food and agriculture sectors, including providing opportunities for agronomic trials through its group companies.

Demand for fertiliser minerals is expected to grow steadily over the medium to long term, supported by megatrends of population growth, evolving dietary preferences, and the rising importance of food security amid heightened geopolitical uncertainty. In particular, demand for sustainable fertiliser products is poised to increase as agriculture faces rising expectations to reduce environmental impact and adopt responsible farming practices. Leveraging the expertise it has built in mine development and operations through its Mineral Resources Group, MC will bring together its integrated strengths across business segments—including the food and agriculture related businesses—to generate new value through the Project.

Mitsubishi Corporation is an integrated trading and investment company that develops and operates businesses across multiple industries in collaboration with its global network of consolidated subsidiaries and affiliates. MC has eight business groups spanning a broad range of industries: Environmental Energy, Materials Solution, Mineral Resources, Urban Development and Infrastructure, Mobility, Food Industry, Smart-Life Creation (S.L.C.), and Power Solution. In addition to trading, MC works with partners to take on roles in development, production, and manufacturing at sites around the world.

Headquarters: 17 Charterhouse Street, London, EC1N 6RA, United Kingdom
Business: A global diversified mining company, with a portfolio of world-class assets and undeveloped resources including copper, premium quality iron ore, and crop nutrients
Representative: Duncan Wanblad, Chief Executive
Established: 1917