Israel Chemicals (ICL) is set to begin mining mineral salt polyhalite located at lower levels of its potash mines in the North Sea.
According to geological studies conducted by ICL's UK-based unit Cleveland Potash (CPL), more than a billion tons of polyhalite ore are located in Boulby mines in north-east England, beneath the potash.
ICL is expecting to mine large volumes of the mineral during the first year at a relatively low cost.
The British Government has granted £15m ($24.5m) to support the project, according to ICL.
CPL's managing director Graham Clarke said the mining expertise developed at Boulby, along with the proximity of the polyhalite deposits, will simplify the extraction process while reducing its cost.
UK-based potash manufacturer CPL is conducting mining activities below the North Sea under a concession from the British Government, reports Reuters.