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Sirius Minerals wins sales deal with U.S. company
January 21, 2014 / 7:52 AM / 4 years ago

Sirius Minerals wins sales deal with U.S. company

Jan 21 (Reuters) - Potash Miner Sirius Minerals Plc said polyhalite sales commitments for its $1.7 billion potash project in Northern England were now 4.8 million tonnes per year, after a deal to sell at least 500,000 tonnes a year to a U.S company.

AIM-listed Sirius Minerals did not identify the buyer but said it was a Fortune 500 agri-business.

It said the pricing of the deal was based on the market price of nutrients contained in polyhalite and in line with previous guidance.

The miner said it had agreed to sell at least 500,000 tonnes per year of polyhalite - a form of fertiliser ingredient in potash - for five years with a possible renewal for a further 5 years.

The U.S.-based buyer could take up to an additional 500,000 tonnes per annum, it added.

The company said last month that it had signed an agreement to supply 500,000 tonnes per year of polyhalite to Sichuan Agricultural Means Group (Sichuan AMPC).

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