29th Oct 2013 11:05
LONDON (Alliance News) - Sirius Minerals PLC Tuesday said it has signed two memorandums of understanding with customers in China, for 500,000 tonnes of polyhalite per year over ten years.
The potash exploration and development company said the deals with Jiangsu Luling Chemical Industry Group Co. Ltd. and Huaken International Co. Ltd., are the result of a marketing campaign for products from the company's York Potash project.
Polyhalite is a rare evaporite mineral used as a speciality fertilizer as it contains four important nutrients and is low in chlorine.
The company said its total sales commitments now equal 3.8 million tonnes per year, which represents 75% of the first phase production at its York Potash project.
Sirius Minerals shares were up 2.3% to 8.88 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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