York Potash signs KEYTRADE AG marketing agreement

Released : 18/02/2013 07:00

RNS Number : 0524Y
Sirius Minerals Plc
18 February 2013
 



 

 

  

Sirius Minerals Plc

 

York Potash signs marketing agreement with KEYTRADE AG

 

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company"), the globally diversified potash development group, are pleased to announce the signing of a marketing agreement with KEYTRADE AG ("KEYTRADE").

KEYTRADE, one of the world's leading fertilizer trading, distribution and marketing companies, will market up to 1.75 million tonnes per annum of Polyhalite produced at the York Potash Project (the "Project"), currently under development by Sirius.  The Project's initial production is currently scheduled to begin from late 2016 with a first phase production target of 5 million tonnes per annum.  KEYTRADE will be marketing in key regions of Central and South America (excluding Brazil), South East Asia, as well as specific countries in Europe and Africa. 

KEYTRADE was founded in 1997 in Switzerland.  It is a private company, owned 50% by its founders and 50% by CF Industries (NYSE: CF).  KEYTRADE has 119 employees and offices and affiliates in 10 countries with active fertilizer trading and sales in 96 different countries.  Their fertilizer portfolio includes nitrogen, phosphates, potash, NP / NPK, and specialty fertilizers.

Melih Keyman, President and CEO of KEYTRADE said:

"KEYTRADE is very excited about this agreement with Sirius Minerals.  We believe that there is big potential to market Polyhalite globally.  The scale of the York Potash Project resource, coupled with Polyhalite's unique multi-nutrient characteristics, matches the agricultural requirements of our world.  Together with Sirius, we believe that there is a significant global market for Polyhalite." 

Chris Fraser, Managing Director and CEO of Sirius said:

"As one of the world's leading traders and distributors of fertilizers, 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."

 



 

For further information, please contact:

Sirius Minerals Plc




Peter McLennan
(General Manager - Investor Relations)

 


Tel:  +44 8455 240 247

 

Email: info@siriusminerals.com

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About Sirius Minerals Plc

Sirius Minerals is a globally diversified potash development company. Its primary focus is to bring on stream major potash mining facilities through the acquisition and development of projects overlying recognised potash deposits.  Today it holds properties in the United Kingdom (North Yorkshire), the United States (North Dakota), and Australia (Queensland).  
Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market.  Its shares are also traded in the United States on the OTCQX through a sponsored ADR facility.  Further information on the Company can be found at www.siriusminerals.com.

 


This information is provided by RNS
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