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Government Responds to Whitby Potash Petition

Government Responds to Whitby Potash Petition

Published by the Yorkshire Coast Radio News Team at 9:30am 5th November 2019.

The government has responded to a petition for it to insure a loan to finance the potash mine near Whitby,

The petition now has nearly 12,000 signatures and any that get more than 10,000 must be responded to.

Sirius Minerals has had difficulty in completing Stage Two of its financing, after deeming the current bond market conditions unsuitable. 

The Department for Business, Energy and Industrial Strategy said:

"The Government’s interactions with Sirius Minerals are commercially confidential and it is therefore not possible to comment further on the particulars of dealings between Government and Sirius.

The Government’s interactions with Sirius Minerals are commercially confidential and it is therefore not possible to comment further on the particulars of dealings between Government and Sirius Minerals.

However, we wish to assure all interested parties that all requests for Government financial support are assessed in great detail and must meet necessary assistance criteria.

When examining any request for financing, the Government has to assess the potential benefits of a project against the need to protect taxpayers’ money."

The government says the Petitions Committee will take a look at this petition and its response.

It can press the government for action and gather evidence.

If this petition reaches 100,000 signatures, the Committee will consider it for a debate.

The Committee is made up of 11 MPs, from political parties in government and in opposition. It is entirely independent of the Government.

Comments

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alanT, on 6th November 2019 9:54am
I am a small private shareholder in Sirius which I saw as a marvelous opportunity to invest in mining a unique local resource and create much needed long term employment in a very depressed area. Additionally it appears that the exported product would bring into the UK a much needed stream of revenue.
It is a pity that the UK government seems reluctant to provide the financial support to Sirius needed to bring this into production when they can spent Billions on Dumb Smart Meters and the under costed H" scheme.
The government is not showing the entrepreneurial spirit which once made this nation great.

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