London — Sirius Minerals Plc’s proposal to build the world’s largest potash mine – the York Potash Project, near Whitby in North Yorkshire, U.K. – won an 8-7 vote from the North York Moors National Park Authority June 30. Only 15 of the 19 NPA members voted. The mine would be partially under the park. It was the last major hurdle for the project prior to financing. A major opponent of the project, Campaign for National Parks (CNP), said it is weighing an appeal, which would need to be launched within six weeks. “This is really just the beginning for the company – we have made a major step forward and now have a pathway to reaching production and unlocking ever more value for our shareholders,’ said Chris Fraser, Sirius managing director and CEO. Fraser said the company will provide a separate update on the project the week of July 6 that will provide a full status report and detail the next steps and milestones on the way to reaching first production. Sirius says the project would be the world’s largest and highest grade deposit of polyhalite, a multi-nutrient form of potash containing potassium (14 percent), sulfur (19 percent), magnesium (6 percent), and calcium (17 percent). Sirius’s first phase would produce 6.5 million mt/y, with a second phase reaching as high as 13 million mt/y. Initially, Sirius plans to focus on the polyhalite for direct application use or in granular form for NPK blends. Sirius says potassium sulfate can also be made, and that the site has muriate of potash (MOP) capability. Sirius has touted that it has lined up multiple agreements with organizations that have promised to take the bulk of its first phase capacity. Incorporated in 2003, Sirius shares are traded on the London Stock Exchange’s AIM market. Shares are traded in the U.S. on the OTCQX through a sponsored ADR facility. The company’s stock, which was closed for trading on June 30, shot up 43.3 percent on its July 1 close.
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