Sirius Minerals to Begin Construction at York Potash Mine in 2016

Sirius Minerals (LSE:SXX) announced that the York potash project now has all the planning approvals and is expected to start construction in Q1 2016 after final approvals are received. The company also reported that its financing strategy if advancing.
As quoted in the press release:

The Decision Notice from the North York Moors National Park Authority (“the Authority”), which formally grants planning permission for the Company’s mine and mineral transport system application, has been issued by the Authority and is with the Company.

The receipt of the Decision Notice is the formalisation of a major milestone for the Company and is the conclusion of over four years’ work in the planning process.  Throughout this time the Project, which is expected to create over 1,000 jobs at full production, has enjoyed wide ranging support from business groups, parish councils, the local community, education providers, MPs, local enterprise partnerships and tourism groups.

As set out in its investor presentation (available on the Company website), Sirius is currently finalising its Definitive Feasibility Study (“DFS”) which remains on track for completion this quarter.  The Project now has all the planning approvals it needs to commence construction and is also continuing value engineering work with a number of contractors in order to prepare for future construction.  The Company’s financing strategy is also advancing and the first phase is planned to be put in place during Q1 2016.

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

We are delighted to be through this key approvals process and to now be moving into the delivery phase of this world class Project. On behalf of everyone at Sirius, I want to thank the thousands of people who have supported the Project to date and we look forward to beginning construction during 2016.

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