Potash development group Sirius Minerals has confirmed the target mine head location for its York Potash Mine and launched the onshore planning process for the project.
The mine access and related surface infrastructure is located around four kilometres south from the outskirts of Whitby on the B1416 and is situated within the North York Moors National Park.
Nevertheless, the company said on Monday morning that the location "has been chosen to minimise the impact on the local community and the environment and represents the optimum site for the mine surface facilities."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Analysts at Jefferies said this morning that due to its situation within the national park, "the selection of mine head location is a critical step for future engineering and securing governmental approvals for both mine and associated infrastructure development."
Sirius will now submit an Environmental Impact Assessment (EIA) Screening and Scoping Request to formally launch the planning process and pave the way for a full planning application before the end of the year.
"From the outset, Sirius has said we would develop a state-of-the-art potash mine at York Potash in an unobtrusive manner. Our proposed location and initial designs show what would be a relatively simple concept to construct, but with one of the world's most innovative approaches to low impact mine design," said Sirius's Managing Director and Chief Executive Officer Chris Fraser.
"This is a nationally significant project that will bring extensive benefits to North Yorkshire and the wider British economy at a time of great need and for generations to come.The effort in our design work demonstrates that we will deliver on our commitment to the local community and we look forward to feedback on these plans through the public consultation process over the coming weeks."
