Sirius Minerals, which is trying to build a deep fertiliser mine in North Yorkshire, has had to take a stake in a Brazilian distributor to gain access to the world’s most important and fastest growing fertiliser market.
The UK listed miner announced a share swap Monday, handing over £27m of stock for a 30 per cent stake in Cibra, Brazil’s sixth largest distributor and a subsidiary of the privately held Omimex Group, a Texan oil and gas company.