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This is Sirius: UK Potash mine looks set for September start

This is Sirius: UK Potash mine looks set for September start

Sirius Minerals’ plans to build one of Britain’s biggest Potash mines will not be affected by the Brexit referendum, despite the fall in value of the sterling.

We are targeting to be in a position to start construction in September … that is what we are working to achieve,” said Chris Fraser, the Australian former banker behind the Sirius project.

Fraser also admitted that the UK’s decision to leave the EU would shift the costs of the project “in our favour”.

“We are a dollar asset, but a big part of the costs will be [paid in] sterling [for] labour … With lower sterling, we will be in a stronger position.” He said.

The Potash mine, to be built under the North Yorkshire Moors in the UK, is said to be on the of the country’s most significant polyhalite – a form of fertiliser, exports. When completed, the Potash mine will also be the largest mine in Britain since the 1970s.

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