Yorkshire potash mine plan ‘moving forward’

THE company behind plans to develop the first UK potash mine for 40 years in Yorkshire is doing new deals on mineral rights and planning where it will drill first.

In a stock market update, Sirius Minerals said the York Potash Project is “moving forward on many” fronts including the gathering together of historic data that will allow the firm to improve its models of the ground conditions in the area.

York Potash was bought by Sirius Minerals with 150m Sirius shares, valuing the company at £25m, with York Potash founder becoming chief executive of Sirius as part of the deal.

Sirius believes the mine producing potash, the main ingredient in fertilizer, could create up to 5,000 jobs for the region both through direct employment and through opportunities created in related supply chains.

Sirius said this morning it had begun to select locations for its initial drilling campaign and was analysing the possible operating and capital costs as well as expanding the project team.

In addition to its North Yorkshire project, Sirius is pursuing prospects in North Dakota, in the United States, and in Western Australia.