20 Oct 2015 07:00
20 October 2015
Sirius Minerals Plc
Approvals update - Final decision notice
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide an update on the approvals process for the York Potash Project ("the Project").
The Decision Notice from the North York Moors National Park Authority ("the Authority"), which formally grants planning permission for the Company's mine and mineral transport system application, has been issued by the Authority and is with the Company.
The receipt of the Decision Notice is the formalisation of a major milestone for the Company and is the conclusion of over four years' work in the planning process. Throughout this time the Project, which is expected to create over 1,000 jobs at full production, has enjoyed wide ranging support from business groups, parish councils, the local community, education providers, MPs, local enterprise partnerships and tourism groups.
As set out in its investor presentation (available on the Company website), Sirius is currently finalising its Definitive Feasibility Study ("DFS") which remains on track for completion this quarter. The Project now has all the planning approvals it needs to commence construction and is also continuing value engineering work with a number of contractors in order to prepare for future construction. The Company's financing strategy is also advancing and the first phase is planned to be put in place during Q1 2016.
Chris Fraser, Managing Director and CEO of Sirius, comments:
"We are delighted to be through this key approvals process and to now be moving into the delivery phase of this world class Project.
"On behalf of everyone at Sirius, I want to thank the thousands of people who have supported the Project to date and we look forward to beginning construction during 2016."
For further information, please contact:
Sirius Minerals Plc Investor Relations
|
Email: ir@siriusminerals.com |
Tel: +44 845 524 0247 |
Joint Brokers Liberum Capital Limited (NOMAD) |
Neil Elliot, Clayton Bush, Jill Li |
Tel: +44 20 3100 2222 |
J.P. Morgan Cazenove | Ben Davies, Jamie Riddell | Tel: +44 20 7742 4000 |
WH Ireland
| Adrian Hadden | Tel: +44 20 7220 1666 |
Media Enquiries Tavistock | Jos Simson, Mike Bartlett, Emily Fenton | Tel: +44 20 7920 3150 |
Warrant Trading Enquiries Liberum Capital Limited |
Simon Smith |
Tel: +44 20 3100 2171 |
About Sirius Minerals Plc
Sirius Minerals is the fertilizer development company focused on the development of the York Potash Project in the United Kingdom, which has the world's largest and highest grade deposit of polyhalite, a multi-nutrient form of potash containing potassium, sulphur, magnesium and calcium. Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market. Its shares are also traded in the United States on the OTCQX through a sponsored ADR facility. Further information on the Company can be found at: www.siriusminerals.com.