{"id":1112646,"date":"2019-04-25T10:41:09","date_gmt":"2019-04-25T10:41:09","guid":{"rendered":"http:\/\/www.mining.com\/?p=984308"},"modified":"2019-04-25T10:41:09","modified_gmt":"2019-04-25T10:41:09","slug":"sirius-minerals-secures-european-supply-deal-for-its-5b-fertilizer-mine","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1112646","title":{"rendered":"Sirius Minerals secures European supply deal for its $5B fertilizer mine"},"content":{"rendered":"

Shares in Sirius Minerals (LON:SXX), the British company building a huge fertilizer mine beneath a national park,\u00a0jumped on Thursday after it announced<\/a> it had\u00a0secured a ten-year supply and distribution deal in Europe.<\/p>\n

The agreement with BayWa Agri Supply & Trade, will see the German agribusiness buy up to 2.5 million tonnes a year of polyhalite, a form of potash that is used in plant fertilizers. That amount is expected to ramp up after year five.<\/p>\n

Sirius said the contract would deliver the highest pricing of any of the supply agreements<\/a> it has so far inked around the world, which now total more than 10 million tonnes a year.<\/p>\n

Sirius’ Woodsmith mine\u00a0will generate an initial 10 million tonnes per year of polyhalite \u2013 a form of potash used in plant fertilizers.<\/q><\/p>\n

\u201cThe European fertilizer market is highly advanced and the second largest in the world behind\u00a0China,\u201d Sirius Managing Director and CEO, Chris Fraser, said in the statement<\/a>. \u201cWe are delighted to be partnering with a leading agribusiness to distribute our POLY4 product into this key market.\u201d<\/p>\n

The news comes as the miner seeks to raise $3 billion of debt to finish building its Woodsmith fertilizer project in North Yorkshire.<\/p>\n

Sirius has already raised $1.4 billion from investors<\/a>, including $250 million from Australia\u2019s richest woman, mining magnate Gina Rinehart, but has struggled to secure a loan backed by the UK government<\/a>.<\/p>\n

The Woodsmith mine, poised to be one of the world\u2019s largest in terms of the amount of resources\u00a0extracted, is set to generate an initial 10 million tonnes per year of polyhalite. That figure will double once it reaches full capacity by 2024..<\/p>\n

The operation involves sinking two 1.5km shafts below a national park on the North York Moors and is expected to create about 1,800 jobs during construction, as well as 1,000 permanent positions once it opens, in May 2021.<\/p>\n

The ore will be extracted via the two mine shafts and transported to Teesside on the world\u2019s longest underground conveyor belt via a 37km-underground tunnel. It will then be granulated at a materials handling facility, with the majority being exported to overseas markets.<\/p>\n

The company\u2019s shares climbed 5.9% to 20.98 on the announcement, but the stock has fallen from a peak of 39.85 over the last 13 months.<\/p>\n

The post Sirius Minerals secures European supply deal for its $5B fertilizer mine<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has found in BayWa, a Germany agribusiness, a partner that will distribute in Europe the fertilizer Sirius plans to produce from its Woodsmith mine.<\/p>\n

The post Sirius Minerals secures European supply deal for its $5B fertilizer mine<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1944,424,404,369,698,1945,438,1098],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112646"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1112646"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112646\/revisions"}],"predecessor-version":[{"id":1112735,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112646\/revisions\/1112735"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1112646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1112646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1112646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}