4 Jul 2011 07:00
For immediate release: 4 JULY 2011
Sirius Minerals Plc
("Sirius" or the "Company")
York Potash Concept Study
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, are pleased to announce the commencement of the Concept Study on the York Potash Project.
The Concept Study represents a key stage in the development of the York Potash Project. During this phase the various options and development alternatives for the project will be analysed and tested. Importantly a through innovation analysis phase will be incorporated to ensure the latest breakthroughs in mine and process development and sustainable design are incorporated into the Project. Sirius expects this to be completed by the end of 2011.
Sirius has finalised the appointment, via its subsidiary York Potash Ltd, of its team of consultants to deliver the Concept Study for York Potash. The Company has adopted a novel approach to this critical early stage study of the project's feasibility by appointing leading specialist consultants for different project aspects:
·; Geology and Drilling: FWS Consultants
·; Concept Study Engineering: Ercosplan
·; Slurry Pipeline Transport: Murphy Group
·; Owner's Team Support: Hatch
Chris Fraser, Managing Director and CEO of Sirius, said: "We believe we have assembled the best possible team of consultants to help us deliver the York Potash Project. Our decisions have been based on securing relevant and practical expertise in analysing the unique aspects of the York Potash Project. In this team we have access to well over 100 years of potash expertise and this strongly positions us to deliver the highest quality Concept Study for the project."
FWS (www.fwsconsultants.co.uk) has been working on the York Potash Project since its inception in early 2010. Lead by Rick Smith, the FWS team remain the lead consultants on all geological aspects of the project.
Ercosplan (www.ercosplan.com) is one of the world's leading potash geological and engineering consulting firms. In particular they have extensive in-house expertise in relation to the Zechstein Basin from their origins in the German potash industry and from working with K+S KALI GmbH. Ercosplan will have overall responsibility for the compilation of the Concept Study and work in partnership with Sirius's other consultants.
Given the important potential represented by the transport of mined ore to processing facilities via pipelines, Sirius decided to secure the services of a dedicated pipeline expert. Murphy Pipelines (www.murphygroup.co.uk) has extensive experience in the construction of major pipeline systems around the world but in particular in the UK. Murphy brings practical expertise and should enable Sirius to form more definitive views on the viability and economics of the pipeline systems sooner.
In addition, Sirius has secured the services of Hatch (www.hatch.ca) to work with the Owner's Team to drive project innovation and analysis. Hatch provides a very powerful resource with extensive potash expertise. Their ability to critically review and provide input into the Concept Study will be of significant value to the Company.
For further information, please contact:
Sirius Minerals Plc | |||
Chris Fraser(MD & CEO) | Tel: +44 7582711382 | Andrew Lindsay(FD & CFO) | Tel: +44 20 7917 2800 |
NOMAD | Joint Brokers | Media Enquiries | |
Beaumont Cornish Limited | Liberum Capital Limited | XCAP Securities Plc | Gth Media Relations |
Roland Cornish, James Biddle | Michael Rawlinson, Clayton Bush | John Grant, Karen Kelly, David Newton | Toby Hall, Christian Pickel |
Tel: +44 20 7628 3396 | Tel: + 44 20 3100 2222 | Tel: +44 20 7101 7070 | Tel: + 44 20 3103 3903 |
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About Sirius Minerals Plc
Sirius Minerals is a globally diversified potash development company. Its primary focus is to bring on stream major potash mining facilities through the acquisition and development of projects overlying recognised potash deposits. Today it holds properties in the United Kingdom (North Yorkshire), the United States (North Dakota), and Australia (Queensland and Western Australia).
The Company is additionally progressing ongoing Research and Development initiatives into the secondary uses of salt and potash beds for energy storage and carbon dioxide sequestration.
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 the use of a sponsored ADR facility. Further information on the Company can be found at www.siriusminerals.com.