The mine developer will use the new gear to drill out the 23 mile tunnel that will connect the group’s polyhalite fertiliser mine to export facilities on Teeside.
Two more boring units will be added to the project next year to complete the tunnels.
“Sirius is intending that mined polyhalite never comes to surface at the Woodsmith minesite,” said Yuen Low, mining analyst at Shore Capital.
Our tunnelling machine has arrived safely at Wilton International after its long journey on river, land and sea. Assembly starts this week before excavation commences in the coming months.#progress #tunnelling #tunnelboringmachine #construction @WiltonSite pic.twitter.com/6XgDUSTjye— Sirius Minerals (@siriusminerals) February 16, 2019
“Instead, it would be hoisted to the 360m level and transported to the MHF via a Mineral Transport System (MTS), which is essentially a high-capacity conveyor in a 37km-long tunnel.”
Low added: “All things considered, while Sirius is currently at development stage and still some years from becoming a cash flow-generating company, we believe that an investment in Sirius should become progressively de-risked and enjoy significant value uplift as it advances towards production.”
Sirius Minerals shares were up 1% on Monday, changing hands at 20.0p.
--Updates for share price--