"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.