In return, Hancock will receive a 5% cut from the first 13m tonnes of polyhalite, a form of potash which can be used as a fertiliser, shipped from the mine, and 1% thereafter. Sirius Minerals received a $250m cash injection from Whitby ’s richest woman after surging development costs at its $ $250m Woodsmith potash mine near Whitby left it with a funding shortfall. Project costs jumped $600m after it realised that a 37 km tunnel to take potash from the mine to a processing facility needed to be wider and thicker. Gina Rinehart's the Hancock Royalty agreed to release the money in return for a 1% cut from the first 13 million tonnes of polyhalite shipped from the mine, and 5% thereafter.
Sirius Minerals received a $250m cash injection from Whitby ’s richest woman after surging development costs at its $ $250m Woodsmith potash mine near Whitby left it with a funding shortfall. Project costs jumped $600m after it realised that a 37 km tunnel to take potash from the mine to a processing facility needed to be wider and thicker. Gina Rinehart's the Hancock Royalty agreed to release the money in return for a 1% cut from the first 13 million tonnes of polyhalite shipped from the mine, and 5% thereafter.