Sirius Minerals scores UK and European sales agreements

Sirius Minerals has entered into a number of agreements with undisclosed fertiliser distributors and manufacturers in the UK and Europe for the future sale of polyhalite from the York Potash Project.

Sirius Minerals has entered into a number of agreements with undisclosed fertiliser distributors and manufacturers in the UK and Europe for the future sale of polyhalite from the York Potash Project.

Under the framework sales agreements (FSA), which set out volume commitments for formal sales contacts closer to the time of first production, Sirius will supply 310,000 tonnes per annum. It includes volumes of 60,000 tonnes, mainly targeted for sales in the UK.

Prices will be set when signing a formal sales contract, based on market conditions at the time.

Sirius is also in discussions with a range of major distributors and fertiliser blenders for the supply of polyhalite.

"This further customer endorsement of the market for polyhalite is just the beginning but demonstrates a clear need and market for this sustainable multi-nutrient form of potash," said Managing Director of Sirius, Chris Fraser.

"Customers both here in the UK and around the world are seeing significant agronomic value in our products and are encouraging us to reach production as fast as possible."

Polyhalite is an evaporite mineral used as a speciality fertiliser. The York Potash mine is located in North Yorkshire, UK.

Shares climbed 2.91% to 26.50p at 10:40 Tuesday.

RD

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
Why the world’s most important economic data release has unnerved markets
US Economy

Why the world’s most important economic data release has unnerved markets

The US added only 194,000 jobs in September, far shorter than the 500,000 that were expected. John Stepek explains why markets didn't react as they no…
11 Oct 2021