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

Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021
Share tips of the week – 23 July
Share tips

Share tips of the week – 23 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Jul 2021
Will Zoom’s $15bn purchase help it expand?
Tech stocks

Will Zoom’s $15bn purchase help it expand?

The videoconferencing platform became a household name during the pandemic, but it now needs new sources of growth. Alex Rankine reports
23 Jul 2021
Philip Morris goes “beyond nicotine”
Stocks and shares

Philip Morris goes “beyond nicotine”

US tobacco giant Philip Morris International has agreed to pay £1bn for British inhaler specialist Vectura.
23 Jul 2021

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021