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Sirius Minerals secures funding

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World Fertilizer,

According to the BBC, Sirius Minerals has announced it has secured the initial £1 billion funding for the construction of the North York Moors potash mine.

Planning permission has already been granted, and covers the mine and the transport tunnel. Construction is anticipated to take approximately 5 years with an initial production of 10 million tpy of fertilizer.

Chief Executive, Chris Fraser, commented: "This financing today fills out a lot of the front work and finances the shafts from beginning to end. The actual first actions on the ground probably won't be until January with the highways work."

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