– POTASH – SIRIUS MINERALS – Sirius Minerals lines up contractors for huge potash mine, may lower cost estimates (Mining.com)
London-listed Sirius Minerals, the company building a $3.6bn potash mine beneath a U.K. national park, said Thursday it has lined up contractors for key components of its North Yorkshire project.
Sirius’ mine, poised to be one of the world’s largest in terms of the amount of resources extracted, is set to generate an initial 10MMt per year of polyhalite, a form of potash that is used in plant fertilizers, before it enters a second phase that will double that production to 20MMt a year.
The project is being tackled in stages, and now that Sirius has selected its key contractors it said it will have a better idea about the initial costs of the project. The miner noted it plans to revise its capital requirements for stage one of the project, which it said should reflect a reduced cost in the near future.
Sirius had originally expected to begin production in late 2016, with initial output of 5MMt per year and had signed a few future supply agreements. The current development schedule, however, points at 2018 as the most likely time for production to begin.
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