Money of Mine Our intern investigates the $5 Billion mine that won’t work (it’s Woodsmith)
Our intern Matt “Hobbsy” Hobbs has gone deep into the asset almost at the centre of the biggest mining M&A deal of the decade – Woodsmith. If you haven’t heard of it, we don’t blame you. This is a giant mining project currently under construction in the UK and it has been a giant plague within Anglo American’s portfolio.
Hobbsy unpacks the colourful history of the project and evaluates its prospects here in 2024. Spoiler, we aren’t awfully positive on its outlook despite US$5 billion being sunk to date.
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(0:00:00)Introduction
(0:01:19)Why this project is of interest
(0:02:53)The beginnings of Woodsmith: Sirius Minerals
(0:09:42)Funding disaster
(0:14:52)What the heck is Polyhalite?
(0:23:50)Novel engineering approach
(0:31:20)Sandstone dilemma
(0:44:46)What Anglo American thinks now
(0:47:38)When could first production happen?