Fertiliser development company Sirius Minerals has unveiled the findings from the definitive feasibility study (DFS) for its North Yorkshire polyhalite project in UK, and expressed its plan to produce 20 million tonnes per annum of potash, with initial production of ten million tonnes per year.

The company expects to produce its first product in 2021, followed by the end of fit out and ramp-up with a ten million tonne per year rate expected in 2023.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Sirius Minerals also aims to raise $3.56bn to fund a huge polyhalite mine underneath the North York Moors national park near Whitby, UK.

The financing will be done in two phases, with the first phase comprising $1.63bn and second phase including $1.93bn for installing 10Mtpa capacity.

"The business that is created from this project will sit as a world leader in the fertiliser industry based here in the UK."

The current net present value (NPV) of the project, which could last for 100 years, is $15bn and the NVP could rise to $27bn once the production starts.

See Also:

The project will include dropping a shaft and digging caves at a depth of 1,500m and shipping of polyhalite through conveyor belt via a 23 mile underground tunnel.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The polyhalite would then be transported for processing on Teeside, with the help of the previous Redcar steelworks, reports The Telegraph.

Once commissioned, Sirius is aiming to make annual profits of between $1bn and $3bn from the project.

Sirius Minerals managing director and CEO Chris Fraser said: "The business that is created from this project will sit as a world leader in the fertiliser industry based here in the UK.

"It is expected to have a low operating cost structure, high margins and a very long asset life in one of the most business friendly, stable and dynamic economies in the world."

The project would soon see early construction activity including highways upgrades and expects to create thousands of jobs in North Yorkshire and the Teesside area.