NORTH Yorkshire’s economic output will rise 17 per cent once the region’s new £3.2 billion potash mine is up and running according to a new report on the Sirius Minerals projects.

An independent economic impact assessment published this week has revealed the mine, which is under construction near Whitby, will bring at least 50 years of benefits for North Yorkshire through its mining of the plant fertiliser potash.

As well as adding 17 per cent to the economic output of North Yorkshire, the project, being undertaken by Sirius Minerals will create “thousands” of highly paid jobs, and stimulate local supply chains through the £316 million annual running costs, according to the report produced by consultants Quod.

Two 1,600m long shafts are being drilled at the Woodsmith Mine to extract the polyhalite, a unique fertilizer which contains four of the six minerals plants need to grow and has been proven to boost crop yields.

The polyhalite will then be transported through a 23-mile long underground tunnel to a new processing plant and specially-built harbour facility at Wilton International in Teesside, close to the site of the old Redcar steelworks.

The report describes the Sirius Minerals project as the largest private sector investment in the North of England and is set to deliver major economic benefits for the UK in the coming years. It claims the project would boost Britain’s economy by £2.3 billion a year after Brexit as millions of tonnes of fertilizer from North Yorkshire are exported from Teesside right around the globe.

It also laid out a series of local benefits, including the creation of more than 1,000 high-paying jobs along with training opportunities for local people. Sirius will become one of only 265 firms in Yorkshire and the Humber employing more than 1,000.

The report said: “Sirius will spend £316 million every year to operate the mine and will prioritise domestically sourced inputs wherever possible, supporting supply chains in starch, wax, utilities and machinery.

“This spending will have the potential to strengthen the existing industrial cluster in Redcar and attract new, complimentary investment.

“The mine and facilities will support an integrated and circular supply chain, strengthening existing clusters and creating new ones.”