Jan 8, 2020

Anglo American eyes bid for potash mine firm Sirius Minerals

Sirius Minerals, the company behind plans for a £4bn potash mine, in North Yorkshire is considering a takeover bid. The mining giant Anglo American said it was in advanced talks about a possible offer of 5.5p per share. The future of the mine has been in doubt after Sirius failed to raise cash to unlock funding. Anglo American's interest in the Sirius project will infuriate those who have opposed the mine, but holds out the prospect of a much needed boost to the North East's economy. The mine had been expected to open in 2021 and create 1,000 jobs, although Sirius Minerals slowed construction work at the end of 2019 due to its funding problems.

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