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Potash company’s project optimism
10:36am Thursday 8th August 2013 in News
THE company behind controversial plans for a potash mine on the North York Moors has said it does not expect a anticipated drop in prices to affect its project.
Sirius Minerals wants to build the mine at a site near Whitby, saying it will add £940 million a year to the local economy once fully operational. The North York Moors National Park Authority postponed making a decision on the scheme last month after the applicants asked for more time to address environmental issues.
Chris Fraser, managing director and chief executive of Sirius, said potential reductions in potash prices, which have been forecast by one of the world’s largest mining operators, would cause problems for “existing high-cost producers”.
But he said: “The York Potash project has a robust business model to underpin its financing and development into a long-term independent supplier.”
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