Updated: YORK Potash, the company proposing to build a new state-of-the-art potash mine between Whitby and Scarborough, has said it has found enough minerals on the site to keep it going for more than 50 years.

The company said that following tests on the site, it believes it contains 1.35 billion tonnes of high grade polyhalite, which is processed to create premium potash, which will be used as fertiliser.

It said its studies had led it to estimate the minerals on site were some of the best and highest quality in the world.

Only 690 million tonnes of mineable polyhalite ore are needed to deliver 50 years of production, it said.

Chris Fraser, managing director and chief executive of the company, said: “This maiden resource estimate is another key milestone in the development of the project. With only three drill holes, we have delivered the world’s largest and highest grade resource of polyhalite.

“Our focus continues to be on moving forward as quickly as possible and in the coming months we hope to be in a position to share more with the local community on the detailed plans about how this project could be built.”

The York Potash project would be the first new deep potash mine in Britain for 40 years and is expected to cost about £1.74 billion to start production.

Sirius, which owns York Potash, said it could create up to 5,000 jobs both directly and indirectly, with 1,500 jobs created alone during the development and construction phase and 1,000 people operating the mine once it starts yielding potash. No location for a potential mine head has yet been identified.

The company anticipates that it can construct the mine within a three-year timeframe, which could enable production to start in 2017.

Conservationists have opposed the scheme.

Tom Chadwick, chairman of the North Yorkshire Moors Association, said: “We are completely opposed to a major industrial development in the national park. That’s what it amounts to. It will be the largest intrusion in a national park in 40 years. It will diminish the national park.”