Sirius cheered by polyhalite findings

THE company behind plans to develop a potash mine in North Yorkshire says the quality of the deposits are “truly exceptional.”

Following tests, Sirius Minerals said the site near Whitby has the thickest and highest grade polyhalite ore reserve in the world.

It said there are 250 million tonnes of the deposit which will give the mine a phase one life of more than 50 years.

Chris Fraser, managing director and chief executive of Sirius, said the scale and quality of the York Potash polyhalite deposit has now been confirmed as “truly exceptional.”

He said: “Our exploration programme has delivered a number of world firsts – the world’s largest and highest grade polyhalite resource, and now the world`s thickest and highest grade polyhalite Ore Reserve.

“The York Potash Project will deliver significant value to our shareholders and can make an exceptional contribution to the UK and local economies. Defining such a significant high quality ore reserve is a vitally important step in the financing and development of the project.”

Earlier this week the company announced it has taken a “new approach” to the approvals process and will submit updated plans next summer.

Mr Fraser said today: “While the additional time required for the approvals process is frustrating for our many supporters, a potential mine life of over 100 years hopefully puts that into some perspective.”