2nd Dec 2015 09:55
LONDON (Alliance News) - Sirius Minerals PLC on Wednesday said the judicial review window for parties to challenge the most recently awarded planning approval for its proposed mega-potash mine in York has closed, and said it is "highly unlikely" any objections have been filed.
Sirius is currently progressing its plans to build a substantial, multi-billion pound potash mine in the North York Moors National Park to produce different products that can be used as fertiliser. The York potash project is the first new mine in the UK for over 45 years, and Sirius claims it will be the biggest potash mine in the world once built.
The miner has already secured all of the approvals required to begin construction of the project and the mineral transport system.
As standard, a judicial review window was launched once the approvals were awarded to allow any parties to challenge the validity of the decision to award the approvals on legal grounds. However parties could not challenge the merits of the planning decision itself.
The last approval that Sirius secured was planning permission for the mineral transport system from the North York Moors National Park Authority. The review window for that approval closed on Monday. However any parties that have made an objection in that window do not technically have to inform the park authority until December 7.
That means that any objections that could potentially arise will have already been lodged, and no further challenges can be lodged going forward.
Although still possible that an objection has been made, Sirius said the park authority has confirmed it has no received any challenges so far, and Sirius believes it is "highly unlikely" any parties have lodged a challenge at this late stage.
The review windows for all the other approvals that Sirius have secured throughout the year have already passed and closed.
Moving forward, the company still expects to publish a definitive feasibility study for the project in January 2016, whilst also working to secure the first phase of financing for the project before the end of the first quarter of 2016. Discussions with potential financing partners are expected to accelerate once the results of the study have been published.
Sirius shares were down 3.2% to 18.64 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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