In 2016, Hancock Prospecting committed to making its first major overseas investment in British mining business Sirius Minerals.
Sirius Minerals is developing the world’s largest deposit of polyhalite, a rare mineral containing four (potassium, sulphur, magnesium and calcium) of the six macro-nutrients used in multi-nutrient plant fertilizers.
Located in North Yorkshire, United Kingdom, this project will involve constructing a new mine, building a 37km underground conveyor system, developing a state-of-the-art granulation facility and upgrading port facilities. Its initial production capacity is 10 million tonnes per annum (Mtpa), with the potential to reach 20Mtpa through subsequent phases of development.
This project will deliver a new and natural product which fits with Hancock’s long-term investment in agriculture and will provide a product of value to many Australian farmers. Some of its produce will also be available for Hancock’s agricultural interests.