Sirius Minerals Provides Update on York Potash Project

Potash Investing

Sirius Minerals Plc (LSE:SXX,OTCMKTS:SRUXF) provided an update on the progress and development of the York potash project. The company advised that the projects mine and mineral transport system has now been granted permission from the North York Moors National Park Authority.

Following the positive decision by members of the North York Moors National Park Authority (“NYMNPA”) to resolve to grant permission for the Project’s mine and mineral transport system (“MTS”) a number of work streams are currently underway and outlined below.
Following positive resolutions to grant approval for the key planning applications for the Project, there remain a number of steps to take before the final decision notices are issued to the Company. For clarity, these decisions are for the mine and MTS from both the NYMNPA and Redcar and Cleveland Borough Council (“RCBC”), for the materials handling facility (“MHF”) from RCBC, and for the temporary construction accommodation and a park and ride facility from Scarborough Borough Council (“SBC”).
As is common for major projects of this nature, most of these applications are ‘departures’ from the relevant local determining authority’s ‘Development Plan’ and the applications have therefore been advertised as such. The Secretary of State for Communities and Local Government currently has the option to ‘call-in’ the applications and hold a public inquiry if he so chooses. The Company does not believe such a course of action is necessary and awaits the notification from the local authorities as to government’s decision on this matter.

Chris Fraser, managing director and CEO of Sirius, commented:

After our recent approvals success we are now rapidly moving to the next phases of financing and construction of the York Potash Project. With the underlying strength of our business model, unique product and sector fundamentals I believe we are only at the beginning of a very steep value curve as we move towards becoming a major multi-nutrient fertilizer producer.

Click here to read the full Sirius Minerals Plc (LSE:SXX,OTCMKTS:SRUXF) press release.