London-based miner Anglo American has announced it is considering to take over Sirius Minerals under a deal valued at some £386 million (US$505 million).
“In September 2019, Sirius announced that it was undertaking a strategic review in order to assess the development plan for its North Yorkshire polyhalite project,” the global miner said in a statement. “Anglo American believes that the project has the potential to become a world-class, low-cost and long-life asset. Sirius has progressed the development of the project to an advanced stage, with construction now under way for over two years.”
Data from Sirius suggest the North Yorkshire polyhalite project is the world’s largest known high-grade polyhalite deposit, fitted with a JORC reserve of 290 million tonnes, with a grade of 88.8%, and a resource of 2.69 billion tonnes, according to the statement.