27th Mar 2013 07:00
27 March 2013
Sirius Minerals Plc
York Potash Project approvals update
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") are pleased to provide an update on the York Potash Project planning approval process. The Company has received further requests for information from the North York Moors National Park Authority ("NYMNPA") in relation to the determination of the York Potash planning application.
In order for the application to be determined robustly, the NYMNPA will now re-consult statutory stakeholders once additional information is received from the Company. The NYMNPA has agreed in principal, pending venue confirmation, a revised determination date of 2 July 2013. Both parties are keen to have the application determined in a timely fashion, under the spirit of the Planning Performance Agreement previously agreed. The Company has committed to providing all additional information to the NYMNPA by 21 April 2013 at the latest.
As per the announcement on 15 March 2013, the Company had been progressing the required work to provide information to the NYMNPA for the agreed deadline of 3 April 2013. This work was on track to be delivered on time. Whilst further information requests are still possible as part of the planning process, the main consultees have now responded and the Company views this as unlikely provided it can provide the information that has now been requested.
The overall project timeline remains unchanged at this time and it is anticipated that, subject to onshore mining approval, early site works would begin before the end of the year.
Chris Fraser, Managing Director and CEO of Sirius, commented:
"It is in everyone's best interest that the application is determined properly and robustly and, although there has been a huge amount of work that has gone into the application, it's important that key consultees are comfortable with the technical details. We remain confident in the strength of the application, the substantial benefits it can deliver and the progress of this important project."
MoD holding objection update
Following the 'holding objection' made by the Ministry of Defence ("MoD") in relation to concerns over possible impact on RAF Fylingdales, the Company has provided a detailed technical report which it believes addresses the concerns raised. The MoD is having the report independently reviewed and is expected to respond in the coming weeks. The Company remains confident that it has demonstrated that there will be no impact on this important facility.
The Company is planning a webcast explaining the planning process at a date to be confirmed.
For further information, please contact:
Sirius Minerals Plc | |||
Peter McLennan(General Manager - Investor Relations)
| Tel: +44 8455 240 247
| Email: [email protected] | |
NOMAD/ Joint Broker | Joint Brokers | Joint Brokers | Media Enquiries |
Macquarie Capital (Europe) Limited | Liberum Capital Limited | Jefferies Hoare Govett | Pelham Bell Pottinger |
Steve Baldwin, Raj Khatri | Michael Rawlinson, Clayton Bush | Peter Bacchus, Thomas Rider | Charles Vivian, Lorna Spears |
Tel: +44 20 3037 2000 | Tel: +44 20 3100 2222 | Tel: +44 20 7029 8000 | Tel: +44 20 7861 3232 |
About Sirius Minerals Plc
Sirius Minerals is a globally diversified potash development company. Its primary focus is to bring on stream major potash mining facilities through the acquisition and development of projects overlying recognised potash deposits. Today it holds properties in the United Kingdom (North Yorkshire), the United States (North Dakota), and Australia (Queensland). Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market. Its shares are also traded in the United States on the OTCQX through a sponsored ADR facility. Further information on the Company can be found at www.siriusminerals.com.
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