The Queen is among a clutch of landowners set to share a £3.8bn windfall from the largest mine dug in Britain. Dozens of small farmers in North Yorkshire could become multimillionaires thanks to a gigantic deposit of fertiliser a mile below the moors.
Sirius Minerals lifted the lid last week on the riches that will be unlocked for local people and estate owners by its mine. It broke ground on the project in North York Moors national park this year.
The company aims to tap a 70-metre deep seam of polyhalite, a mineral-rich form of potash. The £2.3bn mine is expected to reach peak production in the mid-2020s.
Sirius, which moved from the junior AIM market to the main board last week, said it would hand out royalty cheques of £65m a year. Under current projections, the payments will total £3.8bn over the lifetime of the project. The national park authority is set to receive £772m.
Minerals belong to the landowner. Except for gold, silver, fossil fuels, which belong to the Crown.
Just think how much easier fracking would be if the landowners got the royalty cheques…..