RE: No news articles28 Sep 2019 18:37
Sirius seeks light at end of the tunnel
Emily Gosden, Energy Editor
September 28 2019, 12:01am,
The Times
Economics
Sirius has completed a mile of its 23-mile tunnel under the North York Moors to transport polyhalite, a form of natural fertiliser
Sirius has completed a mile of its 23-mile tunnel under the North York Moors to transport polyhalite, a form of natural fertiliser
ANDREW MCCAREN FOR THE TIMES
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Work continued at Sirius Minerals’ Woodsmith mine in North Yorkshire yesterday, even as shares in the company fell to new lows amid fears over its future.
The FTSE 250 group so far has completed just over a mile of a planned 23-mile tunnel to take polyhalite deposits from its site near Whitby to Teesside for export as fertiliser.
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Sirius shares fell sharply last week after the failure of its plan to raise the $3.8 billion needed to get the mine into production.
The group will slow work at the site near Whitby to save cash while it holds a strategic review. Its shares fell 22 per cent to close at less than 3p, the lowest since 2010.