As reported by Reuters, Sirius Minerals has announced that talks with a consortium of financial investors on an alternate debt financing proposal to raise US$680 million has fallen through, putting the company at the risk of going under administration or liquidation.
The company also urged its shareholders to vote in favour of Anglo American’s proposal to buy Sirius, as the move to find bank financing to complete its North Yorkshire polyhalite mine, Britain’s biggest mining project, failed.
Anglo American earlier this year agreed to buy Sirius for £404.9 million.