The slowdown of work at Whitby's Woodsmith mine is going to have a "significant" impact on the local area according to the Chief Exec of the North York Moors National Park.
The National Park Authority says it's officers are continuing to liaise closely with Anglo American following recent announcements by the company of plans to restructure the business.
Amongst a series of proposals, the company has announced an intention to significantly slow down capital and operational investment at the Woodsmith site over the next two years to support balance sheet deleveraging while critical studies are completed to support syndication (i.e. seeking a strategic partner for the venture).
Chief Exec of the Authority, Tom Hind, says they have been in contact with mine owner, Anglo American.
The Authority says it is keeping a close eye on the situation at the mine.
Tom Hind says it's a worrying time for mine staff and local businesses.
In a report to the Authority's board Mr Hind said:
"Officers recently met senior representatives of Anglo American’s crop nutrients business to explore the implications of the scaling back of investment.
Further discussions are expected once there is greater clarity with regard to the precise effect on construction works associated with the development.
The NPA has received assurances that all extant planning conditions and section 106 contributions will continue to be met in full by the company"
- RELATED STORIES : Woodsmith Mine Investment to be Cut Over Next Two Years
- RELATED STORIES : Anglo American to "Slow Down" Development of Whitby's Woodsmith Mine
- RELATED STORIES : Council Seeks Details of Woodsmith Mine Changes
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