8th Jun 2016 08:16
LONDON (Alliance News) - Sirius Minerals PLC on Wednesday said it has signed a new offtake agreement with Chinese industrial company Yunnan Dian Huang Peony Industrial Group Co Ltd covering POLY4 fertiliser from its planned polyhalite mine in North Yorkshire, .
The new agreement will replace a previous agreement Sirius had in place with Yunnan TCT Yong-Zhe Co Ltd. No financial details were disclosed, but Sirius said the pricing remains in line with its previous expectations.
"There is great potential for our multi-nutrient product in both Yunnan and China so firming up this supply arrangement is another positive step for us, especially at such a competitive time for the fertiliser industry," said Sirius Managing Director Chris Fraser.
Shares in Sirius were up 1.4% to 19.77 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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