Sirius Minerals plc
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| Public | |
| Traded as | : |
| Industry | |
| Founded | 2003 |
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Key people
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Russell Scrimshaw (chairman) Chris Fraser (CEO) |
| Products |
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| Revenue | £nil (2016) |
| £(11.9) million (2016) | |
| £(23.0) million (2016) | |
| Website | www.siriusminerals.com |
Sirius Minerals plc is a fertilizer development company based in the United Kingdom. It is listed on the and is a constituent of the FTSE 250 Index.
Founded in 2003, the company initially focused on exploring the potential for potash mining in North Dakota. However, after abandoning attempts at overseas exploration in February 2012 and following approval from the North York Moors National Park Authority in June 2015, the then AIM-listed company stated that it would seek financing in order to begin construction at the Woodsmith Mine in North Yorkshire. It was admitted to the main market in April 2017.
The Company’s stated focus is the development of its North Yorkshire polyhalite project which aims to exploit the world’s largest deposit of polyhalite, a type of potash. The company plans to create a mine three miles south of Whitby and an underground conveyor system to transport the mineral from the mine site to a materials handling facility at Teesside, 36 km (22 mi) away. The area of interest is located on the Yorkshire coast, mostly within the North York Moors National Park. The mineral seam lies 1,500 metres below the surface, covering an area of approximately 796 square kilometers (around 271 square kilometers onshore and 535 square kilometers offshore).
The company announced the material findings of the project's definitive feasibility study on 17 March 2016. In summary it proposes a framework for production capacity of 20 million tonnes per annum ("Mtpa") with initial installed capacity of 10Mtpa. This will deliver a £2.3 billion annual contribution to the UK's GDP, £2.5 billion of annual exports which represents a 7% decrease in the UK's trade deficit and 2,500 direct and indirect production jobs as well as over 2,000 jobs during construction.
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