Woodsmith: Anglo American provides update on development of giant mine near Whitby
An agreement with a major international investor is providing a boost for work to develop a giant mine in North Yorkshire.
Anglo American has provided an update on plans for the Woodsmith Mine, near Whitby, which the company predicts will set new standards for sustainable mining while helping to boost food production and sustainable farming practices. Earlier this year, Anglo American entered into an investment agreement with Mitsubishi Corporation to support continued progress of Woodsmith, which is being developed to mine polyhalite, a natural mineral fertiliser.
In a statement to accompany its half year results, Anglo American said: “Since the 2024 slowdown decision, the project has been focused on critical value-adding works to de-risk the overall project schedule and further optimise certain scopes of the project in preparation for ramp-up, subject to the final investment decision (FID). The project is preparing for FID from 2028.”
Anglo American said its pilot sales of POLY4 – the polyhalite product- have continued in Europe, North America, China, and Brazil, “working with existing distribution partners and future customers to develop global demand for polyhalite through realised product sales, and maximise its value-creation potential”.
"Feedback from the sales programme has been positive, and we will continue to expand the programme in 2026 to gain further insights and information to support the feasibility study,” the statement added. “Through our ongoing market engagement activities we are gaining further traction and recognition with partners, including fertiliser retailers, distributors and farmers, helping to build awareness, credibility and demand for POLY4.”
In February 2026, Anglo American entered into an investment agreement and related shareholders' agreement with Mitsubishi Corporation to support continued development of Woodsmith, including working together on market development and financing opportunities.
"Together, Anglo American and Mitsubishi will explore opportunities to build out demand for POLY4. This includes providing financial and commercial resources to accelerate pilot sales and leveraging Mitsubishi's extensive networks across food and agriculture sectors to broaden market development across key markets and related business development and strategic partner engagement.
"Building these relationships will contribute to optimising the project in the feasibility study phase, prior to submission to the board for approval. Through its investment and involvement in the ongoing development of the Woodsmith project, Mitsubishi also intends to evaluate its participation in a future financing plan at the time of the Anglo American Board's final investment decision, with potential for Mitsubishi to acquire an equity interest of 25% or other such amount subject to negotiations at that time. The agreements extend the longstanding successful partnership between Anglo American and Mitsubishi Corporation, while allowing for additional investment and the involvement of other partners, and represents a pathway for Anglo American to syndicate a significant minority share of its interest in Woodsmith.”