Yorkshire fertiliser mine would be big boost to economy, backers say
However, environmental campaigners have expressed concern about damage the project could do to the North York Moors National Park.
The move comes as Environment Secretary Michael Gove has announced a review of national parks and protected areas.
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Hide AdSirius Minerals, which is in talks with the Infrastructure Projects Authority over a possible Treasury guarantee to form part of the scheme's financing, said a new report showed the economic potential of the project.
The firm said a survey of the project by consultants Quod that it commissioned suggested the scheme to extract a natural fertiliser called polyhalite would bring annual GDP contributions of £2.3 billion for the next 50 years, and support more than 1,000 high quality jobs.
Tory MP for Scarborough and Whitby, Robert Goodwill, said: "This project is a huge opportunity for the UK and sits at the heart of the Government's industrial strategy agenda."
Redcar's Labour MP Anna Turley, said the mining project was "great news", stating: "After the recent closure of the steelworks, new high-value jobs and large-scale supply chain opportunities will be a welcome boost."