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Sirius Minerals provides 2Q19 update

Published by
World Fertilizer,


Sirius Minerals Plc has provided a quarterly progress update.

Highlights

  • Comprehensive US$3.8 billion funding solution for stage 2 financing requirements launched on 30 April 2019 and on-track to complete before the end of September 2019.
  • Successful completion of US$425 million equity offering and US$400 million convertible bond offering.
  • Long-term, take-or-pay supply agreement signed with IFFCO, one of the largest co-operative societies in the world, for volumes increasing to 1 million tpy POLY4.
  • Construction advancing well, and the company remains on target to achieve first polyhalite and commercial production on time and in line with its cost schedule.

Chris Fraser, Managing Director and CEO of Sirius, commented: “The successful raising of US$825 million of funding during the quarter marked the completion of the first part of our stage 2 financing. We are making good progress with the remaining components of our stage 2 financing package, which we expect to complete by the end of September this year in line with guidance, and which will enable us to bring our multi-nutrient POLY4 product to our customers to meet the expanding needs of the global agriculture industry.”

Read the article online at: https://www.worldfertilizer.com/project-news/03072019/sirius-minerals-provides-2q19-update/

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Fertilizer project news