Another tough year for Sirius Minerals as delays lead to losses

7th Aug 2014 17:42

Sirius Minerals reported a £8m loss for the year ended 31 March 2014 due to delays to the mine planning application for the York Potash project in North Yorkshire. The company faced problems with material uncertainties inherent in the project.In the fiscal year 2013, the group registered a £8.6m loss.The 40-year-long York Potash project value was, however, improved through operating cost reductions, increasing capacity and reducing construction disturbance and risks. Sirius' chief executive, Russell Scrimshaw, said: "The year ahead will be a defining period for the group, but it is only a step on our way to fulfil the group's true potential."Sirius' shares were down 1.14% to 10.88p in Thursday at 16:23.JF