Sirius Minerals PLC: York Potash Approvals Update
January 14, 2014 (Source: Sirius Minerals) — The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) (“Sirius” or the “Company”) are pleased to provide an update on the approvals process for the York Potash Project (the “Project”).
The Company has entered into a new Planning Performance Agreement (“PPA”) with the North York Moors National Park Authority (the “National Park Authority” or “NYMNPA”) to secure on-going pre-application engagement with the National Park Authority in advance of the submission of a fresh planning application no later than July.
PPAs are viewed as best practice for significant planning applications. They provide an arrangement whereby the Company can contribute to funding the costs of the NYMNPA in order for it to continue detailed pre-application discussions. These discussions centre on key aspects of the Project such as environmental study methodology and planning policy considerations.
The pre-application funding, which ceases when a planning application is submitted, allows the National Park Authority to ensure its routine work and performance is not affected by this pre-application engagement.
As indicated in the announcement on 23 October 2013, the Company has formally withdrawn its previous application. Submitting a fresh application will simplify existing planning documentation and allow the Company to focus its case around those matters of outstanding concern to the National Park Authority.
Chris Fraser, Managing Director and CEO of Sirius said:
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“Agreements like this are examples of best practice and will relieve some financial burden from the local authority. We look forward to continuing the pre-application engagement to facilitate the most complete planning application possible.”
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) and the United States (North Dakota). 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>