Sirius Minerals PLC: York Potash Approvals Update
October 23, 2013 (Source: Sirius Minerals) — Highlights:
- Company considering resubmitting York Potash Project application rather than refurbishing existing application
- Approach likely to simplify planning documentation with no change to previously announced timeframes
- Company considering extension to underground project boundary, which would result in identical planning applications being submitted to the National Park Authority and North Yorkshire County Council
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) (“Sirius” or the “Company”) are pleased to provide a procedural update on the approvals process for the York Potash Project (the “Project”).
The Company is considering withdrawing its current planning application for the York Potash Project and resubmitting a fresh application in line with already announced timeframes. This forms part of the on-going discussions with the North York Moors National Park Authority (the “National Park Authority”) about how the resubmitted planning information is best handled.
Submitting a fresh application would simplify planning documentation and would also allow the Company to focus its case around those matters of outstanding concern to the National Park Authority. This process is not expected to change the timescales set out in the announcement on 16 September 2013.
The Company has also notified the National Park Authority that it may have to extend the ‘red line’ boundary of the planning application to cover additional parts of its area of interest where it holds additional mineral rights. These areas (near Cloughton and Whitby) fall outside of the National Park boundary and as a result a new planning application would be required to be made to both the North Yorkshire County Council (“the County Council”) and the National Park Authority.
The applications would be identical and both the County Council and the National Park Authority would determine the parts of the proposal that fall within their remit. The County Council is one of the largest mineral planning authorities in the UK and will determine the application to it as part of its normal planning process.
Get our daily investorintel update
In the meantime the Company is progressing various planning work streams and studies as previously announced and is holding regular meetings with the National Park Authority.
Chris Fraser, Managing Director and CEO of Sirius said:
“The Company is making good progress towards the approvals needed for the York Potash Project and the involvement of the County Council is unlikely to impact our current timescales given its minerals planning experience.”
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>