Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The Yorkshire Post reports Sirius Minerals has started a concept study at its York Potash project, paving the way for mining to begin at the UK’s only seam of potash. Sirius has secured mineral rights for 631 sq km of land between Whitby and Scarborough with plans to open a new potash mine and create up to 5,000 jobs.
Sirius is about to start drilling two temporary boreholes in the North York Moors National Park. Once it gets an idea of what the potash seam looks like under the ground it can plan where to site the mine.
Residents fear a major drilling operation in the national park will destroy one of the country’s finest landscapes.
Concerns have also been voiced about the amount of traffic which would be generated if the potash mine were to become a reality.
The United Kingdom has one other potash mine:
The Boulby potash mine, situated on the North Yorkshire coast, is the UK’s only commercial potash mine and the most important non-hydrocarbon mineral operation in Britain. The mine started production in 1973 and is currently managed by Cleveland Potash Ltd and employs over 800 workers. Mining operations cover some 13.5 km, reaching approximately 5 km offshore and The Crown Estate is responsible for the deposits of potash occurring beneath the seabed.
Picture is of a typical North York Moors landscape taken by Colin Grice in August 2005.
