Sirius Minerals is a British company based in the United Kingdom. The purpose of the company in the first place was to find areas rich in potash. The company has started the construction at Woodsmith Mine in Yorkshire. The latest news from this company is that it was acquired by Anglo American in March 2020. The company is negotiating with potential investors to raise funds for the first phase of construction.
Sirius Minerals is aiming to find the biggest sources of polyhalite, a specific type of potash. The plan includes the creation of transportation of the mineral from the mine site to the Teesside facility, which is distanced 36km from the mine site. According to the plan, the mine should be located three miles south of Whitby. The initial capacity is planned to start with 10Mtpa and grow to 20Mtpa per annum. The annual contribution to the general GPA in the UK is £2.5 billion.
News
Thanks to the local agreement, Yorkshire’s Sirius Minerals has opened more than 1000 job positions in the fertilizer mine, which is a great benefit for the local community. After 40 years, this project will be the deepest mining place in the UK. It definitely secures a return for shareholders, while it also secures the jobs of the existing employees and opens new job position for employees.
Share Price
Before the acceptance of Anglo American, the share price of Sirius Minerals was worth £5.50 billion. The investors have been taking a look at the company’s progress recently, and the news is that the share price of Sirius Minerals has grown by 17%. The biggest potential is in North Yorkshire’s mine, which when operated properly, has huge revenue potential. The annual revenue of this mine is approximately £3 billion. These are still big numbers that are likely to grow in the near future. Those interested in their share price can learn more about buying UK shares here.
Woodsmith Project
The Sirius Minerals company was founded in 2003. The initial plan included exploration of areas in North Dakota. After reconsideration of the plan, the company has focused on starting with the construction in North Yorkshire and has abandoned the plans for overseas exploration. Thanks to their mining exploration, new resources have been found of minerals that make the world more sustainable.
The history of the Woodsmith project has started in 2010. The company has raised funds for further exploration in the area with the aim to find potential areas rich in potash. After some exploration, it has been discovered that the area contains some of the largest sources of high-grade polyhalite. The company has then invested in the area for further development in the mine fertilizer. The idea behind the project was creating a mine with a low environmental impact. With that in purpose, the company has raised enough funds from investors from all around the world.
