Sirius : Stage IV

Captain Black's picture

"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."





Captain Qahn's picture

Stella Rose ...

Sirius has completed a mile of its 23-mile tunnel under the North York Moors to transport polyhalite, a form of natural fertiliser

"Sirius has completed a mile of its 23-mile tunnel under the North York Moors to transport polyhalite, a form of natural fertiliser"

Another 8 miles ... ;-))

28.73 metres per day .... 

The Optimist.

Wots 64 weeks in English?

"Suppose a more accurate estimate of their orbit periods is that Mercury takes 7/30 Earth-years and Venus takes 26/42 Earth-years. "

Oh, OK ;-)



Capt. 'Bob''s picture

Sirius Minerals If completed,.. FT

"Sirius Minerals’ Woodsmith Mine in North Yorkshire would be Britain’s largest new mining project in decades. The site contains the world’s largest known deposit of polyhalite, a mineral that can be used as a fertiliser. But Sirius has struggled to make its business case to investors. Last month, in the face of market scepticism, it was forced to pull a $500m bond sale, which was required to unlock a $2.5bn financing package. Its shares have since rallied after the announcement this month of a supply and distribution agreement with a fertiliser company owned by the Qatar state. The country’s sovereign wealth fund is its biggest shareholder and has been touted as a possible strategic backer for the project. Sirius claims that polyhalite has a number of advantages over traditional fertilisers: a chemical-free production process, low carbon emissions and lower solubility — meaning it stays in the soil for longer than other compounds and has to be reapplied less often. Currently only one company, Israel Chemicals, mines polyhalite and it is not in mainstream use as a fertiliser..."

"30 October 2019 – Deadline for feedback for the consultation report

Autumn 2019 – Submission of planning application

Summer 2020 – Possible planning decision"

Anything is possible... ;-0


"Contracted volumes increase to c.2.0 Mtpa in year five and peak at 2.1 Mtpa in year eight - taking Sirius' aggregate peak sales volumes to 13.8 Mtpa"

Ah, So ...

"The Jedi deal "continues our strategy of a multi-vendor, multi-cloud environment as the department's needs are diverse and cannot be met by any single supplier," it added."

Still Ears..