viewSirius Minerals PLC

Sirius Minerals expects to release positive DFS in January

The company’s mine development project now appears to be clear of the planning and permitting process, and the definitive feasibility study is almost complete.

The mine will be built beneath the North Yorkshire Moors

Sirius Minerals (LON:SXX) has confirmed that the judicial review period for all key planning approvals granted for the York Potash mine has now ended.

The company said it is not aware of any challenges to the planning approval granted by the National Park Authority.

All other local approvals granted to the company to date are beyond challenge, it added.

"We are pleased to be able to put the majority of the approvals work behind us and focus on the implementation of this world class project,” said Chris Fraser, managing director and chief executive.

Fraser also told investors that the mine’s definitive feasibility study is now close to completion, and he said the study’s positive findings are expected to be announced in January.

The York Potash project is set to be the world's largest and highest grade deposit of polyhalite, a multi-nutrient form of potash used in fertiliser.

It is planned that the project will be funded via a series of financings and previous feasibility work has indicated total capital costs in the order of US$3bn.

The plan is to access debt markets for the majority of the construction costs, as the company believes the project economics ‘lend themselves’ to high leverages and because it is in the long term interests of shareholders.

Quick facts: Sirius Minerals PLC

Price: 3.528 GBX

Market: LSE
Market Cap: £247.67 m

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