Sirius Minerals receives first approval on York potash project

10th Jan 2013 09:48

Sirius Minerals has edged further in its flagship York potash project after receiving the green light on the licence for the offshore section on the Yorkshire coast. The mining and exploration company was given the first of four key approvals from the marine management organisation (MMO) on the project, namely to extract potash minerals from the 525sq offshore area. An application for onshore mining and surface infrastructure is being finalised and will be submitted to the North York Moors National Park Authority."The issue of the licence by the MMO is a significant achievement as the offshore area represents the largest component of the mineral rights within the York Potash Project," Managing Director and Chief Executive Officer, Chris Fraser, said. "This is one of the key approvals for the project and we look forward to securing the remaining approvals as quickly as possible."Formal public consultation for the pipeline transport system comes to an end Friday and the application is expected to be submitted this February.Shares jumped 2.61% to 29.50p at 10:00 Thursday following the announcement. RD