"The owners of the Potash mine near Whitby say they are focused and committed to delivering the project.
Sirius Minerals have not been able to get the £400m it needs to fund the next stage.
It has taken the decision to reduce the rate of development in order to save funding to allow more time for alternatives.
Gareth Edmunds, External Affairs Director at Sirius Minerals, said:
"We've been focused since the day we started this project, which is nearly nine years now, on delivering it.
We've known that there's always been challenges to overcome; we've overcome a number of those challenges.
We're two and a half years into construction; we've made fantastic progress across the sites, we've got customers around the world who wants to buy this product, and now we need to find a way during this strategic review process to fund the remainder of the project."
He explained if there will be any job losses:
"We're trying to minimise any impact on our staff; and our focus in making this decision is to buy ourselves an additional six months to find an additional funding solution.
That will be part of the strategic review and that will come up with options that will hopefully see us back into full speed ahead, and delivering the project which is our main focus."