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Germinating Potash Mines Is Not A Case Of Just Add Water

November 14, 2019

Germinating potash mines is not a case of ‘just add water’

The problems faced by the Australian heavyweight backers of a proposed multi-billion potash mine in Yorkshire show that the ‘feed the world’ theme alone is not enough to get such projects up and running. But progress is being made.

Potash is a crucial ingredient of fertilizer, which is why the Gina Rinehart-backed, London-listed Sirius Minerals thought it was on a winner after it won approval for its plans to mine the stuff deep below the Yorkshire Moors.

The project is now struggling for funding after failing to raise $US500 million in a bond issue, which in turn would have crystallised a $US2.5 billion financing facility.

The country’s Brexit-related political upheaval doesn’t help; nor does the complex nature of the project that included a 37 kilometre underground conveyor belt.

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