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A handful of us from the office are going to swim the Channel in September. Average morning: ‘Long. Some naysayers have doubted the commitment of mining tycoon Gina Rinehart, Australia’s richest individual, who has backed the task via her firm Hanstick Prospecting. She shall profit only when Sirius starts producing through royalties, Fraser says.
The Qataris have also ploughed money into Sirius. Day Even on a damp and windy, a trip to the mine provides glimpse of the scale of the project. One of the mineshafts has already been 150 metres (500ft) deep – enough to make your stomach lurch when you peer down for the centre of the planet earth.
Twenty-three kilometers away, on Teesside, where the product will be smashed shipped round the world, a tunnel has began being created to the mine just. It shall be the longest tunnel in mainland Britain. If all would go to plan, the company shall start producing and transporting polyhalite along a conveyor belt in this tunnel in 2021. Fraser is eager to beat the deadline.
Given that Whitby is on the North York Moors, a noted beauty spot, locals were surprisingly supportive, especially when one considers the reception given to the fracking firms in the certain area. FRASER says Sirius agreed early on to ‘do things the right way’, unlike privately-owned shale gas extraction companies that sent PR executives, than directors rather, to meet locals at community events.
Fraser says: ‘You could see that was incorrect. A strategy was had by us to turn it into a UK-listed company, which supposed people could make investments and you’d have transparency and good commercial governance. Managers live in the certain area. I reside in the certain area. He made about 500 farmers – the local landowners – partners in the project, meaning they’ll receive royalties when the mines start churning out polyhalite.
There’s big support from people who want it to occur so long as we do it the right way. The program to avoid ‘people chaining themselves to trees’ included committing up to £14 million a yr to support the city. Technically, because it has to make money yet, Sirius must not be in a FTSE index. However the London Stock Exchange made an exception because ‘we are a UK task with nationwide significance’, Fraser says.
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The proceed to the main market was important as US investors refused to get if the company remained on AIM, which he says is ‘seen as the house of spivs and rip-offs’. Fraser is cautious with predators, but insists the business is not for sale. I i did so a lot of takeover defence,’ says the former investment banker. Does he feel pressure at having so many local people, not forgetting thousands of couples like the one we met, relying on him to make the grand plan possible? I think there’s enough pressure already. I can’t stand hearing stories about people who say, ‘I’ve put everything in this’ or ‘I’ve borrowed this’. I am created by That stuff anxious. But the employees are the primary thing.
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