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Sirius Minerals tweets video showing progress at York potash project

The video shows the work Sirius has carried out on the service shaft of the Woodsmith mine over the past 12 months

york potash project
The mine is host to an estimated 2.6bn tonnes of nutrient-rich fertiliser

Sirius Minerals PLC (LON:SXX) has given investors a glimpse of the progress it has made at York Potash project in Yorkshire.

On Monday afternoon the FTSE 250 company tweeted a video showing the work it has carried out on the service shaft of the Woodsmith mine over the past year.

Last week Sirius told investors it was confident that production at the project will start on time and on budget.

The quarterly update indicated there had been some delay to excavation of the mine due to the weather in Yorkshire, but Sirius is confident it can make up the time lost.

Appointing a contractor to sink the main shaft at the mine is the next key task and all avenues are being explored to ensure this happens as soon as possible and that the impact on the overall construction programme is minimised, said the statement. 

Woodsmith, in North Yorkshire, is host to an estimated 2.6bn tonnes of fertiliser rich in potassium, calcium and magnesium.

Sirius raised US$1.2bn for stage one of the project and is expected to raise a further US$2.6bn this year to fund the build-out of the shafts and a 23-mile tunnel to a terminal on the River Tees.

Sirius shares were down 1.3% to 23p on Monday afternoon.

Quick facts: Sirius Minerals PLC

Price: 3.558 GBX

LSE:SXX
Market: LSE
Market Cap: £249.78 m
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