Market: AIM:SXX
52-week High/Low: 35.50p / 21.00p
Sector: General Mining - Potash and Phosphate
Market Cap: 1,601.01M
Sirius Minerals PLC

Sirius Minerals PLC

Sirius Minerals is a UK based fertilizer development company focused on the development and operation of its polyhalite project in North Yorkshire.

Sirius Minerals is traded in the ISDX Exchange HERE

Sirius Minerals PLC


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Big picture - Why invest in Sirius Minerals PLC

Sirius Minerals PLC Snapshot


The Company aims to become one of the world’s largest producers of multi-nutrient fertilizers, with the central objective of unlocking value for customers and shareholders alike. Our approach to achieve this can be best described as one of disruptive innovation and is based around a simple strategy.

DISRUPTIVE MARKET PENETRATION STRATEGY: POLY4 has been consistently proven to increase crop yield and quality and will be made widely available at competitive pricing to comparable products.

LARGE-SCALE PRODUCTION CAPACITY: the Project will have an initial production capacity of 10 Mtpa, with the foundations for 20 Mtpa.

COST EFFECTIVE: our simple production infrastructure will ensure that operating costs are among the lowest in the industry.

LONG-LIFE: our polyhalite deposit is the world's largest and represents an asset in excess of 100 years.


Our values are central to the way we think and behave and are all of equal importance. Our objectives may evolve through each phase of the project, but our values will always remain at the heart of what we do.

SAFETY: Zero Harm everywhere, every time

BELIEF: Uncompromising belief and determination in our achieving our vision

RESPONSIBILITY: Accountability for our actions and acting with integrity in our work

OWNERSHIP: It's our Company and our money

URGENCY: Finding innovative, cost effective and safer ways to do things better

TEAM: Working together to reach our collective goals


The mine, located south of Whitby in North Yorkshire, will have an initial production capacity of 10 million tonnes per annum (Mtpa) and full production of 20 Mtpa.

From the outset the Project has been designed to ensure that it is sensitive to the local landscape. Surface buildings will be limited to a minimum and screened by the existing woodland, together with new landscaping which blends in with the surrounding area.

All mined polyhalite will be transported underground to the materials handling facility on the low impact mineral transport system (MTS), incorporating a high-capacity conveyor belt system in a 23 mile tunnel, which is 4.1m diameter and capable of transporting 20 Mtpa. The technology involved is well understood and widely used in underground mines around the world.

Along the MTS route there will be an intermediate shaft located at Lockwood Beck, which will be utilised to support the construction of the tunnel and used for ventilation and occasional maintenance access during operations. Planning permission has also been granted for two further intermediate shafts at Lady Cross Plantation and Tocketts Lythe.

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Located in Teesside at Wilton International, the materials handling facility (MHF) will consist of the plant and equipment necessary to granulate the polyhalite and create the final product.

The mined ore will be received from the MTS tunnel conveyor into a surge bin and then crushed and milled before being taken to the screening facility. Oversized ore will be screened out and returned to the crusher, whilst the remaining ore is conveyed to the granulation area where it is converted into pellets and dried before being taken to the product storage building.

The finished product will be transported from the MHF along covered, elevated conveyor bridges to the new harbour facilities ready for export. At full production this will include two berths suitable for handling high capacity Panamax ships and the required ship loading equipment.

Planning approval for the MHF and an application for the harbour facilities Development Consent Order have both been granted.

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Materials handling facility and harbour - artist's impression

The Deposit


Our area of interest contains the largest, highest grade resource of polyhalite to be found anywhere in the world.

The deposit was formed in the late Permian period, around 260 million years ago, in the southern North Sea basin. What was then the Zechstein Sea periodically evaporated, leaving behind a sequence of mineral deposits including the shelf and basin seams of polyhalite.

Between July 2011 and August 2013, over 16,000m of exploratory boreholes were drilled from the surface to test the extent and grade of the polyhalite deposit. From the boreholes, 4,200m of core was successfully recovered along with detailed downhole wireline logging data.

Results confirmed that our area of interest contains a polyhalite resource of 2.66 billion metric tonnes, as defined according to the internationally recognised JORC code. This is just 7% of the Project area of interest and provides an asset excess of 100 years. Within the resource area, there is a JORC compliant Probable Mineral Reserve of 280 million tonnes of polyhalite.

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For information on the approvals please click here

Polyhalite - POLY4 EXPLAINED

Polyhalite is an evaporite mineral comprising a natural combination of four of the six macro-nutrients that are essential to plant growth – potassium (14% K2O) sulphur (19% S), magnesium (6% MgO) and calcium (17% CaO) – with the chemical formula K2SO4.MgSO4.2CaSO4.2H2O. While polyhalite deposits are known to occur elsewhere, none have the mineral quality or material extent of our defined North Yorkshire resource, which is the world's largest and highest grade.

POLY4 is the trademark name of our polyhalite products. It delivers four essential macro-nutrients and many vital micro-nutrients, in one simple and efficient fertilizer product. Our high quality product is available in granulated, powdered or chipped form to meet the needs of our customers, taking into account their crop needs, blending requirements, application method and soil conditions.

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Chris Fraser - MD and CEO

Chris has over 20 years’ finance experience in the mining industry with a focus on financing and strategic developments.

During his finance career he worked for Rothschild and KPMG and Citigroup, where he was Head of Metals and Mining Investment Banking for Australia in 2006 and Managing Director in 2008. Chris was the lead advisor on US$2.5bn initial development capital financing for Fortescue Metals Group Ltd.

Thomas Staley - CFO

Thomas has over 10 years’ experience in financing and developing resources, energy and infrastructure projects. His financing experience is across various sources of debt capital (project finance, corporate debt, high yield, export credit) and equity in multiple jurisdictions. Thomas has been responsible for the corporate governance and financial oversight of numerous project development companies.

Simon Carter - Development Director

Simon has a successful fast track project delivery record, from concept through to ramp-up. He has broad international senior management experience acting as a client, consultant and contractor. Simon was previously the Director of Development at Fortescue Metals Group and Project Director of the Solomon and Iron Bridge projects.

Graham Clarke - Operations Director

Graham has over 30 years’ experience in the potash mining industry, including extensive operational experience at Cleveland Potash Ltd where he was Managing Director for seven years. During this time Graham pioneered the exploration and development of CPL’s polyhalite, making it the first mine in the world to commercially extract this valuable material.

Russell Scrimshaw - Chairman

Russell Scrimshaw was formerly an Executive Director and Deputy CEO of Fortescue Metals Group Ltd and was a member of the FMG Board from 2003 until 2011.

Previously, Russell was a board member of Commonwealth Properties Ltd, EDS Australia, Mobilesoft Ltd, Telecom New Zealand Australia Pty Ltd, The Garvan Institute Foundation and Athletics Australia and has also held senior executive positions within the Commonwealth Bank of Australia, Optus Communications Pty Ltd, Alcatel, IBM and Amdahl USA.

In addition, he is an Associate Member of the Australian Society of Certified Practicing Accountants, an Adjunct Professor of Mining Economics at China Central South University in Changsha, China and a non-executive director of ASX-listed Cleveland Mining Company Limited.

Russell was appointed as non-executive Chairman of Sirius Minerals in November 2011 and is a member of the Remuneration Committee and the Nominations Committee.

Keith Clarke - Non- Executive Director

Keith Clarke was Chief Executive Officer of WS Atkins plc, the UK’s largest design and Engineering Consultancy, for eight years to July 2011 and previously held CEO roles with Skanska UK and Kvaerner Construction Group. He also acted as Director of Sustainability and Chairman of Atkins’ Middle East business until April 2012.

He is Chair of Trustees for Forum for the Future, Non-Executive Director for Engineering UK, Future Cities Catapult and the British Standards Institute, Vice President of the Institute of Civil Engineering and adviser to both Infrastructure UK and the Government of Qatar.

Keith joined the Board in December 2013.

Lord Hutton - Non- Executive Director

Lord Hutton was a distinguished member of the Government for 13 years from 1997 to 2010, including 11 years as a Minister and four years serving on the Cabinet. He was appointed Chairman of the Independent Public Service Pensions Commission established by the current Government in June 2010, which delivered its final report in March 2011.

Lord Hutton was a legal adviser to the Confederation of Business Industry in the late 1970s before becoming a senior law lecturer at Newcastle Polytechnic. In 1992 he was elected to the Barrow and Furness seat in Cumbria where he remained as MP until he stood down at the 2010 general election. During Lord Hutton's varied career in Government, he served first as a Permanent Parliamentary Secretary in the Department of Trade and Industry before becoming Leader of the House of Commons and then moving to the Department of Health in 1998 where he became Minister of State for Health in 1999, a position he held until 2005.

In 2005 Lord Hutton was briefly appointed Chancellor of the Duchy of Lancaster and Minister of the Cabinet Office before being made Secretary of State for Work and Pensions. In 2007 Lord Hutton was appointed Secretary of State for Business, Enterprise and Regulatory Reform. In 2008 he became Secretary of State for Defence until he stepped down from the Cabinet in 2009. Following the general election in 2010 he was created a life peer as Baron Hutton of Furness and now sits in the House of Lords.

Lord Hutton joined the Board in January 2012. He is Chairman of the Remuneration Committee.

Noel Harwerth - Non- Executive Director

Noel Harwerth, whose executive background was in international banking, was formerly COO and Chief Tax Officer of Citibank International.

Noel is a highly experienced non-executive director who has sat on a number of boards in a variety of different sectors, including mining and finance industry companies. She brings with her a wealth of background and understanding in mining, finance and governance issues.

Noel joined the Board in July 2015.

Jane Lodge - Non- Executive Director

After an academic background in Geology, Jane’s executive career was primarily in accountancy, where she became a partner at Deloitte. Her roles included Deloitte’s Midlands Practice Senior Partner and Lead Partner for the National Manufacturing Industry. As Manufacturing Industry Leader, she represented the UK on the Deloitte Global Manufacturing Industry Executive and was a member of the CBI Manufacturing Council.

During her 35 year career with the firm, she advised multinational businesses in the construction, financial services, manufacturing and property sectors. Jane was the first woman partner in Deloitte to be appointed to the UK Board of Partners. Since 2012 Jane has served as a non-executive director on a number of publicly listed companies, including construction based companies, particularly in relation to financial governance and audit oversight.

Jane joined the Board in July 2015.

Stephen Pycroft - Non- Executive Director

Stephen Pycroft is Executive Chairman of Mace, a leading international consultancy and construction company. Having joined Mace in 1993 and been appointed a Group Board Director in 1995, Stephen was appointed Chief Operating Officer before taking over as CEO at the end of 2004 and Chairman in 2008. Stephen has led Mace to achieve phenomenal growth with turnover increasing from £90 million in 2001 to £1.1 billion in 2012.

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Under Stephen’s leadership Mace has evolved into an international consultancy and construction group, with a reputation for quality and delivery, employing over 4,000 people worldwide. Stephen’s experience includes delivering some of the UK’s most iconic projects, most notably The Shard, the London Eye and the 2012 London Olympic and Paralympic village. Mace recently secured the contract for preliminary works at Battersea Power Station.

Stephen joined the Board in March 2014.


3rd Floor Greener House, 68 Haymarket

London SW1Y 4RF

United Kingdom

p: +44 845 524 0247

e: [email protected]

UK Head Office

York Potash Ltd

7 – 10 Manor Court

Manor Garth


YO11 3TU

01723 470 010


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Sirius Minerals PLC Timeline

April 29 2018
April 26 2018
April 22 2018
April 19 2018
April 02 2018
March 28 2018
March 05 2018

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