Last night Sirius’ planning application for a potash mine in the North Yorks Moors National Park, was finally given the go ahead after an all day hearing. The planning committee’s approval brought to an end years of argument and tension as to whether the project was so exceptional that it should be allowed despite the fact that it is in one of the countries most loved National Parks.
This is not just any old potash mine. It is huge. It will create a thousand jobs in an area which is desperate for work. It is one of the worlds largest deposits of potash and all the production will be exported, helping to bring life back to towns in the north east. For one project It will make a massive contribution to the UK’s balance of payments.
The decision by a majority of 8 – 7, was touch and go but it now means that the shares of Sirius, which were suspended yesterday morning, should be set to soar as soon as the suspension is lifted this morning, bringing to an end the long period of mixed doubt, despair and hope for the long suffering shareholders. Over the last few weeks the shares have declined from 24p to yesterdays pre suspension level 15.5p, as doubts grew about a successful out come for the application.
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