Sirius Minerals: a timeline of key events from the first mining proposals in 2011 to Anglo American's takeover offer

A lot has happened since Sirius Minerals began to explore the option of mining in North Yorkshire back in 2011.

Thursday, 23rd January 2020, 4:57 pm
Updated Thursday, 23rd January 2020, 4:58 pm
Sirius Minerals: a timeline of events.
Sirius Minerals: a timeline of events.

Here's a recap of all the key events.

Start 2011 - First proposals for the mining operation announced.

September 2012 - Sneaton location revealed.

August 2013 - Sirius secures £25 million to help fund the company through lengthy planning permission delays from New York-based firm Institutional Investor.

February 2014 - Firm scraps controversial pipeline system to transport polyhalite in favour of 350m deep tunnel.

March 2014 - Raises £43 million in capital through share placing.

October 2014 - Revised plans submitted to national park authority and Redcar and Cleveland Borough Council after months of delays.

May 2015 - £15 million raised through share placing.

June 2015 - North Yorks Moors National Park Authority approves by one vote.

October 2015 - Formal planning permission granted by North Yorks Moors National Park Authority.

July 2016 - Government approves harbour facilities on Teesside.

August 2016 - Sirius' shares peak at 45p.

October 2016 - Gina Rinehart, Australia’s richest woman, invests £245 million.

November 2016 - Launches £1 billion funding plan made of stage one and stage two financing. For stage one - issues £400 million new shares and £350 convertible bonds.

February 2017 - Andrew Percy MP unveils name of mine - Woodsmith.

March 2017 - Sirius signs deal to move headquarters to Skipton building.

April 2017 - Completes move to London Stock Exchange’s main market.

May 2017 - Construction begins at Woodsmith mine: Promoted to FTSE 250.

December 2017 - Completes purchase of harbour facility in Redcar.

June 2018 - Work on tunnel begins.

Feb 2019 - First 1,800 tonne tunnel boring machine arrives.

April 2019 - Tunnel boring machines launches: Sirius launches $3.8 billion fundraiser as part of stage two financing to unlock $2.5 billion revolving credit facility offered by US investment bank JP Morgan.

July 2019 - Announces bond issue for August.

August 2019 - Postpone £410million bond offering due to tough market conditions.

September 2019 - Slow Woodsmith mine construction after shelving plans for bond offering due to “global market conditions”, the “ongoing uncertainty surrounding Brexit” and the current political climate.

October 2019 - A petition to ask the Government to intervene is launched.

November 2019 - Sirius starts looking for a strategic investor. Government says interactions with Sirius are "commercially confidential".

January 2019 - Anglo American makes offer to take over Sirius Minerals for 5.5p per share.