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Sirius Minerals says mine development remains on track as it signs up additional contractors

The North Yorkshire mine project continues to make good progress, and Sirius is now exploring opportunities to bring forward production

Sirius Minerals Woodsmith mine entrance
"It is an exciting time for the company," said managing director Chris Fraser

Sirius Minerals PLC (LON:SXX) told investors it remains on track deliver first polyhalite and commercial production on time and on budget.

The Yorkshire based underground mine developer, which today released a quarterly progress update, revealed that it continues to tick work items off the checklist as it moves the project towards production.

READ: JP Morgan positive as Sirius Minerals continues to advance Yorkshire mine

"It is an exciting time for the company as we continue to construct our game-changing Woodsmith Mine which represents the largest private sector investment in the North,” said Chris Fraser, Sirius Minerals managing director.

“The infrastructure we're building will allow us to create thousands of jobs, deliver economic benefits for the local and national economies for generations to come, whilst at the same time both delivering value for our shareholders and playing our part in improving fertiliser practices around the world.”

Sirius said that a tunnelling contract had been signed with STRABAG for drive 1 of the Mineral Transport System, from Wilton to Lockwood Beck, and, it has also signed a new shaft sinking contact with DMC - the contractor handover is said to be largely complete.

Fraser added: “STRABAG brings with it world-leading tunnelling experience, a can-do attitude and another significant, well-aligned partner committed to the success of our project. 

“We are now looking forward to adding progress on our mineral transport system to the impressive progress we have already made on early works and mine shafts."

Additionally, Sirius highlighted that work is being advanced by DMC in order to take the opportunity to potentially bring forward ‘first polyhalite’ by up to six months.

It confirmed that the mine’s production shaft bore hole intersected a total of 53m of polyhalite, and demonstrated consistency with previous holes.

 

Quick facts: Sirius Minerals PLC

Price: 3.55 GBX

LSE:SXX
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Market Cap: £249.22 m
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