20th Oct 2015 08:32
LONDON (Alliance News) - Sirius Minerals PLC on Tuesday said it has secured the final permits from authorities that will allow it to build the York potash project, which is set to be the world's largest potash mine and the first new mine in the UK for 45 years.
Sirius has now received the permits which grant planning permission for the company's mine and mineral transport system from the North York Moors National Park Authority.
Sirius is currently finalising the definitive feasibility study for the project, which it hopes to complete before the end of 2015. It is planning on outlining its financing plans and to start first phase development at the project in the first quarter of 2016.
The first phase development work will lead to initial production of around 10.0 million tonnes per year of polyhalite, used as a fertiliser, before it enters a second phase to double that production to 20.0 million tonnes a year.
"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," it said in a statement.
Sirius shares were down 0.5% to 17.91 pence per share on Tuesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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