Sirius Minerals plans $6-bn UK potash mine

UK's diversified potash development group Sirius Minerals Plc has announced the formal launch of the planning process for its proposed $6-billion York Potash project.

The company has identified the proposed location of the mine head, related infrastructure and initial designs for the new project.

Sirius, established in 2003, is primarily focused on the development of the world's largest and highest-grade polyhalite deposit in York. Its shares are listed on the London Stock Exchange's AIM market.

The company envisions becoming a leading potash producer, one of the top five in the world with its substantial assets for over 50 years that have the potential to become a low-cost high-growth mining operation.  Apart from York Potash, Sirius holds potash properties in North Dakota in the United States, and in Australia.

Sirius managing director and CEO Chris Fraser said: ''From the outset, Sirius has said we would develop a state-of-the-art potash mine at York in an unobtrusive manner.''

''Our proposed location and initial designs show what would be a relatively simple concept to construct, but with one of the world's most innovative approaches to low impact mine design,'' he further said.