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Sirius lines up contractors for North Yorkshire polyhalite project

Sirius Minerals has appointed two contractors for the development of its North Yorkshire polyhalite mine

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Sirius is set to become a major producer of polyhalite fertiliser

Sirius Minerals PLC (LON:SXX) has announced its preferred contractors for key components of the North Yorkshire polyhalite project.

The company will use Associated Mining Construction UK (AMC) for the design and build of the mine and for site development works.

This will include all of the shaft construction at the mine site.

AMC is a recognised expert in shaft sinking for potash projects and has worked with stellar industry names as Mosaic (NYSE:MOS) and Uralkali (LON:URALL) in the past.

Sirius also noted that as a result of refinement of the construction methodology by the tenderers, a significant saving in the estimated project costs is now likely to come through.

The company expects to issue an update to the market on that in the near future.

In the meantime, it’s also appointed Hochtief Murphy Joint Venture as the preferred contractor for the construction of the mineral transport system, specifically the tunnel which will link the mine with the materials handing facility.

Broker WH IRELAND reiterated its 60p price target following the news.

“The chosen contractors have demonstrated an ability to deliver major capital projects and we view them very positively in this light,” the broker said.

Quick facts: Sirius Minerals PLC

Price: 3.55 GBX

LSE:SXX
Market: LSE
Market Cap: £249.22 m
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