logo-loader

Sirius Minerals' shares to be suspended Thursday pending Redcar outcome

Published: 02:22 23 Apr 2015 AEST

uk_map350_55373e8d86395

Sirius Minerals (LON:SXX) told investors that its planning application for harbour facilities in Teesside has been accepted.

The Planning Inspectorate accepted the application for a development consent order and it will now take the application forward for examination.

It is anticipated that a final decision on the application will be made by the Secretary of State for Transport next summer.

The planned harbour facilities are associated with the York Potash project which currently has a number of elements progressing through the planning and permitting phase.

A decision on the plans for Sirius’s mine and mineral transport system (MTS) is expected soon, as the Redcar and Cleveland Borough Council committee is due to meet tomorrow. Earlier this month the company flagged that a published committee report included a recommendation for approval by the planning officers.

Another ‘straddling’ application for the mine and MTS is being determined by the North York Moors National Park Authority.

The York Potash has the world's largest and highest grade deposit of polyhalite (a multi-nutrient form of potash).

The company’s shares will be suspended at the start of trading on Thursday, pending the outcome of the Redcar and Cleveland Borough Council planning meeting, details of which were announced on 15 April 2015.

The suspension has been requested because the decision will be taken at a public meeting during trading hours and the company is under obligation to ensure that the market is updated in an orderly fashion.

Shares closed at 13.5p, unchanged on the day, on Wednesday.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

8 hours, 41 minutes ago