York Potash group seals first fertiliser deal

Swiss company Keytrade will take up to 1.75 million tonnes of polyhalite a year once the mine is up and running at Sirius’ flagship York Potash project.

Liberum Capital analyst Ash Lazenby said: “We see the deal positively impacting the project financing, with a well-respected global fertiliser marketing group now aiding the product story.”

Production at the York project is scheduled to begin in late 2016, with a first phase output target of five million tonnes a year.

Keytrade is one of the world’s leading fertiliser trading, distribution and marketing companies.

It will sell the fertiliser in Central and Southern America, South East Asia and various countries in Europe and Africa.

Chris Fraser, managing director and chief executive of Sirius, said: “As one of the world’s leading traders and distributors of fertilisers, Keytrade has an outstanding global platform to reach customers and countries with substantial growth potential and therefore this contract is a significant endorsement of the outstanding potential market for Polyhalite.

“Sirius marketing work continues to advance in the UK and other major markets of Brazil, China, India, Europe and the United States which provide a significant opportunity for material demand for Polyhalite and its unique multi-nutrient qualities,” he add- ed.