Sirius Minerals - Harbour Approval

Captain Qahn's picture

"20 July 2016

Sirius Minerals Plc

Approvals update - Harbour approval secured

 Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announces that it has received government approval for the Harbour Facilities element of its North Yorkshire polyhalite project (the "Project").  As a result, all major approvals for the Project have now been granted. 

The Company has today been informed by the Department for Transport that the Secretary of State has approved its Development Consent Order ("DCO") for the Harbour Facilities at Teesside.  This includes the new berth, ship loading facilities and the conveyor linkage to the Company's materials handling facility at the Wilton International site.  The DCO includes all the compulsory purchase powers needed to develop the Harbour Facilities.

Chris Fraser Managing Director and CEO said:

"We're delighted to have secured this final approval for the Project and would like to thank everyone who has contributed towards the positive determinations of all of the planning applications and the DCO application.

"Our team is currently actively engaged in the financing phase of the Project and I look forward to providing further updates in due course.  We are closer than ever to delivering this world-class Project."

A copy of the decision letter is available on the National Infrastructure Planning website:  https://infrastructure.planninginspectorate.gov.uk/projects/north-east/york-potash-harbour-facilities-order/ 

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations."

Source: http://otp.investis.com/clients/uk/sirius_minerals/rns/regulatory-story....

North or South ;-?

The PINS website has yet to update with reports, Secretary of State statements  and or any conditions, or if the overhead line is to go North or South.

https://infrastructure.planninginspectorate.gov.uk/projects/north-east/y...

The SoS Letter can be found here: TR030002-001854-Secretary of State’s Decision Letter and Statement of Reasons.pdf

The Notice of Decision is here: https://infrastructure.planninginspectorate.gov.uk/wp-content/ipc/upload...(Reg%2023)%20.pdf

The Report: https://infrastructure.planninginspectorate.gov.uk/wp-content/ipc/upload...

Finance should be fun ;-)

https://www.youtube.com/watch?v=ymPu2PdLW3I

 

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Benefitz Betty's picture

NE: Without Subscription * Windows 10 !!!

Cheeky Tw*ts

"A COMPANY behind a multi-billion pound fertiliser mine says the project is closer than ever after the government backed its plans.

Sirius Minerals has received ministers’ approval for a harbour.

The loading site, on the mouth of the River Tees, is expected to ship Sirius’ polyhalite fertiliser from its York Potash mine, based near Whitby.

Bosses say the harbour will oversee distribution of the polyhalite, reputed as a rich provider of crop growth due to its potassium, magnesium, sulphur and calcium nutrients, after it is transported via an underground conveyor belt to a handling site, at Wilton, near Redcar.

The planning decision means Sirius now has all major approvals to build its mine on the former Doves Nest Farm, near Sneaton village.

Officials hope to start production in 2021 and say construction and operation of the mine will create and support thousands of jobs.

Chris Fraser, Sirius’ managing director and chief executive, said the government’s endorsement was another fillip for the company.

He added: “We are closer than ever to delivering this world-class project.

“We’re delighted to have secured this approval and our team is now actively engaged in the financing phase.”

The Northern Echo previously reported how Sirius had revised construction budgets, saying it will now cost less to build the mine than first predicted.

According to latest figures, the company needs $2.91bn (£2.1bn) to construct the mine.

Bosses had unveiled a definitive feasibility study, which said they needed to raise $3.5bn (£2.4bn) to fund the project through two stages.

However, after assessing fresh information from contractors, they have now cut estimates.

According to the adjusted plans, its first funding stage will need to raise about £800m, down from an initial £1.1bn, with the vast majority of the cash earmarked for development of the mine site.

The second funding phase is now valued at £1.3bn, lower than an original £1.44bn estimate.

The firm is continuing to finalise funding arrangements for the scheme, with prospective lenders involved in initial talks over stage two backing.

However, The Northern Echo understands some of the first agreements could be concluded before the end of the year, allowing workers to get on site.

AMC UK, a joint venture between Thyssen Group and Redpath Group, was previously revealed as the preferred contractor to develop the mine, with the Hochtief Murphy joint venture selected to build the mineral transport system, which will take the polyhalite to Wilton.

Mr Fraser said AMC’s proposals helped cut costs.

He added: “Its plans are more effective and reduce the amount of temporary construction equipment, such as winding towers, and (support) early use of permanent equipment.”

Earlier this year, The Northern Echo revealed Sirius had discovered greater reserves of polyhalite.

Bosses said their probable stock now stands at 280 million tonnes, higher than a previous 250 million tonne estimate.

They added fresh tests also showed polyhalite was capable of bolstering chilli pepper, tea and oilseed rape yields."

 

Captain Qahn's picture

SXX - Judicial Review

RNS 8 September 2016  Sirius Minerals Plc

Harbour Facilities - Judicial Review period expiry

"The Company received a development consent order for the Harbour Facilities on 20 July 2016 and no challenge has subsequently been submitted to the decision during the Judicial Review window.  This is a period during which parties can challenge the validity of the decision on legal grounds (not the merits of the decision itself).

As a result of this, all key planning and development consent approvals for the Company's North Yorkshire polyhalite project have therefore been received and all related judicial review periods have expired without any objections being tabled. "

https://www.youtube.com/watch?v=JSWnS9vz3Do