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Whitby Potash To Be Sold To China

sirius minerals

Published by Alex Taylor at 10:22am 20th July 2018.

The company running the Whitby Potash Mine has signed a contract to sell 1.8 million tonnes of potash a year to China.

Sirius Minerals will supply the potash (POLY4) to Guangzhou Eiliseng Biotech Co Ltd and Yantai Service Agricultural Science and Technology Co Ltd ("YSA").

Sirius has entered into binding take-or-pay supply agreements with each of Eiliseng and YSA for the resale of POLY4 into certain southern and northern provinces of China. 

Both agreements have 10-year terms which run from first production and pricing mechanisms linked to relevant product benchmarks that are consistent with the Company's existing portfolio of agreements.

Chris Fraser, Managing Director and CEO of Sirius, comments:

"China is a key market for POLY4 and we are very pleased to have signed agreements with new customers who both have established fertilizer distribution networks and expertise relevant to their respective regions. 

We look forward to working with Eiliseng and YSA to establish POLY4 as a long term sustainable fertilizer for use in both of their important agricultural regions in China."

Mr Jing Hai Shan, General Manager of Eiliseng, comments:

"Eiliseng is committed to delivering quality solutions for best practice agriculture in southern China through our distribution network direct to farmers.  

We are confident that with Chinese Government policy support and POLY4's unique multi nutrient characteristics that it will play an important role in meeting southern China's agricultural challenges and delivering best practice fertilization."

Mr Zhang Ya Bin, General Manager of YSA, comments:

"YSA and Yantai AMP are delighted to have secured the distribution rights for POLY4 in northern provinces of China. 

POLY4 is a unique fertilizer product that we believe will play a significant role in revolutionising farmer practices in the region and support the policy goals of China."

 

Comments

There is 1 comment on this page.

Ali Wilkins, on 20th July 2018 2:34pm
This is great news! I hope it will be labeled MADE IN WHITBY.

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