7th Jul 2014 08:58
LONDON (Alliance News) - Sirius Minerals PLC Monday said it has decided to hold back its new mine application for the York potash project in the UK until the end of September to align the process with its application for a mineral transport system at the site.
The diversified potash development company said it has now moved back the application from July, stating that it sees a number of planning and environmental advantages for taking the decision to align the two main applications at the site.
The company said it now intends to submit the majority of application information for the mine as a draft before the end of July to enable a period of analysis to help it to be granted the two applications.
Sirius Minerals said the decision has no impact on its overall development schedule for the site and it still plans to deliver first production in mid-2018.
The company added that a pre-application position statement has been agreed between it and officers of the North York Moors National Park Authority which should help along the application process.
"We believe this is the most productive way forward, particularly as this doesn't impact the overall project schedule. In the meantime, the common ground we have currently reached with the authority officers provides very clear guidance as to detail that the applications need to include at the point of submission," Managing Director Chris Fraser said in a statement.
The company's flagship York Potash project, which should produce polyhalite for fertilisers, has current scope for a 12 million tonnes per year operation over two construction phases, with the first phase a 5 million tonnes per year operation.
Sirius Minerals shares were down 6.7% to 11.90 pence on Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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