Sirius Minerals signs deal to supply 0.5m tonnes of polyhalite annually

29th Oct 2013 10:31

Sirius Minerals on Tuesday reported further progress in the marketing of polyhalite from its York Potash Project, prompting the share price higher. The firm has entered into a memorandum of understanding with each of Jiangsu Luling Chemical Industry Group and Huaken International for 500,000 tonnes a year of polyhalite for a period of 10 years. The terms will be at market price to be agreed at the final contract stage, Sirius explained. Chris Fraser, Managing Director and Chief of Sirius, said: "The global demand for polyhalite continues to grow as customers in key markets around the world increasingly understand the value of this multi-nutrient mineral. "This provides further support for the York Potash Project and the thousands of jobs it will create in North Yorkshire and Teesside." NR