Sirius Minerals signs marketing agreement with Keytrade

AIM-listed potash exploration and mining company Sirius Minerals has signed a marketing agreement with Keytrade AG.

AIM-listed potash exploration and mining company Sirius Minerals has signed a marketing agreement with Keytrade AG.

Keytrade, which operates as a fertilizer trading, distribution and marketing company, will market up to 1.75m tonnes per annum of Polyhalite produced at the York Potash Project under the new deal.

The project's initial production is currently scheduled to begin from late 2016, with the first phase production target of 5.0m tonnes per annum.

Keytrade will be marketing in key regions of Central and South America as well as South East Asia and some countries in Europe and Africa.

Chris Fraser, Managing Director and Chief Executive Officer of Sirius said: "As one of the world's leading traders and distributors of fertilizers, Keytrade has an outstanding global platform to reach customers and countries with substantial growth potential and therefore this contract is a significant endorsement of the outstanding potential market for Polyhalite."

Melih Keyman, President and Chief Executive Officer of Keytrade, commented: "Keytrade is very excited about this agreement with Sirius Minerals. We believe that there is big potential to market Polyhalite globally.

"The scale of the York Potash Project resource, coupled with Polyhalite's unique multi-nutrient characteristics, matches the agricultural requirements of our world. Together with Sirius, we believe that there is a significant global market for Polyhalite."

Sirius Minerals' share price was up 3.30% to 23.50p at 09:07 on Monday.

MF

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
The FTSE 100 has clawed back above 7,000 – how much higher can it go?
UK stockmarkets

The FTSE 100 has clawed back above 7,000 – how much higher can it go?

The FTSE 100 index has risen to over 7,000 for the first time in over a year – it now sits just above where it was in 1999. But its era of neglect cou…
19 Apr 2021
The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021