Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

UPDATE: Sirius Minerals "confident" on approvals process for York potash

UPDATE: Sirius Minerals "confident" on approvals process for York potash

--- Adds more detail and share price--- 

Sirius Minerals (LON:SXX) said it was "confident" that objections received for its York potash project will be appropriately dealt with through the planning process.

It updated investors on the approvals process on Monday - saying objections had been received from the Environment Agency and Natural England.

The firm said it was confident that these would be dealt with through conditions placed on any approval for the project and its experts along with the two organisations would be having detailed discussions to seek a solution before the planning determination meeting on July 2.

Chris Fraser, managing director and chief executive of Sirius, said: "The planning case for the York potash project remains compelling as it will deliver many benefits to the local and national economies, whilst also providing a unique multi-nutrient form of potash for the agriculture sector.  

"We remain confident in our submission and believe that detailed planning conditions can satisfy these objections and provide the reassurance of either no impact on neighbouring moorland, or achieving an improvement, without the need for unnecessary delays to the determination of this important project."

The objections have been submitted as part of the North York Moors National Park Authority's statutory consultation process and centre around four key issues.

One from Natural England is an in-principle objection on landscape grounds because the planned site is within a National Park.

Sirius said it believes it has submitted a world-leading design that demonstrates best practice for sustainable development.

The Environment Agency raised an objection relating to foul drainage plans. The company said an assessment done as a part of its planning application concluded there would be "no long term significant impact" with certain mitigating measures put in place.

The other two objections relate mainly to general water related issues and the possible impact on a relatively small area of protected moorland to the west of the mine site.

Sirius said it had conducted a detailed hydrological risk assessment as part of its recent submissions but noted that within these objections it was suggested  more survey data may be needed to better understand the possible impacts of the construction.

Sirius also said today it would meet with the MoD (Ministry of Defence) this week to try and resolve any outstanding issues about the impact of the project on the RAF Fylingdales facility.

Sirius added that the it will also be providing responses to reports issued by the National Park Authority about the potash market and about the project's potential impact on tourism.

"The company is undertaking detailed reviews of these documents and is preparing formal responses to each of them as, individually, they contain statements and conclusions that are inaccurate," it said in today's statement.

Sirius shares were lifted 1% following the news - to stand at 25.25p each.

Giles_55af4ddca6481.jpg
Why Invest In Sirius Minerals PLC? Read More Here

Register here to be notified of future SXX Company articles
View full SXX profile

Sirius Minerals PLC Timeline

Related Articles

African Potash making progress with second deal in less than a month
August 02 2016
The longer-term plan is to create a vertically integrated operator that has the mining, processing and marketing skills to tap into a region that buys in an estimated 10mln tonnes of fertiliser a year.
shareprice.jpg
Mon
“Given said project’s myriad strengths, we are more confident than ever that procuring the requisite funds should not prove overly problematic,” said Shore Capital analyst Yuen Low.
shutterstock_273474905.jpg
May 02 2016
Crystal Peak Minerals shares advance by more than 6% after announcing EMR Capital Resources will increase its shareholding with an at-premium exercise of warrants and further private placement of shares plan

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.