A £2BN fertiliser mine will ignite hundreds of firms’ order books, while supporting and creating thousands of supply chain jobs, company bosses have predicted.

Sirius Minerals told The Northern Echo its York Potash mine, near Whitby, can be the catalyst for significant growth across North-East and North Yorkshire businesses.

The development, which will be the UK’s first potash mine in 40 years, was approved by the North York Moors National Park Authority earlier this week, and Sirius says it will deliver more than direct 1,000 jobs by tapping into the world’s largest and highest grade of the fertiliser polyhalite.

Bosses said building work could begin late this year, or early in 2016, once engineering and design work has been finalised and contractors have been hired to prepare the site, sink mine shafts and dig an underground transport tunnel.

The company hopes to extract 13 million tonnes of polyhalite every year, from an overall defined store of 2.66 billion tonnes, and saw its share price soar by more than 80 per cent yesterday (Wednesday, July 1) morning to nearly 29p a share after the park’s approval.

Chris Fraser, Sirius’ managing director and chief executive, said it has a database of about 500 local companies, which it hopes contractors can use in the construction phase.

Mr Fraser also said it was keen to use local people for the project, highlighting its near 60-strong existing team as an example, which includes half who are originally from the region.

He said: “We are very happy with the planning decision, but, as we have said, this is a step along the way.

“We have worked hard to get here, and now we have to get on building the mine as quickly as we can and at the lowest environmental impact we can.

“We have the database and the contractors could be announced later this year or in early next year.

“A local workforce is the best workforce for any project because they know the area.

"If we can get in people in from the local region, we will go for that."

The firm, which has already spent about £125m on the development, will sink mine shafts at the former Dove’s Nest Farm, three miles out of Whitby, before shifting the mineral underground on a conveyor belt to a handling site at Wilton, near Redcar, for granulation, storage and distribution.

A decision on an adjoining harbour, earmarked for Bran Sands, on the mouth of the River Tees, to load ships to export polyhalite around the world, is expected next summer.

Speaking to The Northern Echo last month, Mr Fraser said the mine, which was previously approved by Redcar and Cleveland Council, will swell the local talent pool and stop youngsters and graduates leaving the region to find jobs.

He also said it would lift North Yorkshire’s economy by up to ten per cent, easing its reliance on tourist trade, while delivering a £1.1bn annual contribution to UK GDP and £1.2bn in yearly exports.

He added: “We are doing something real; this is tangible.

“This project will open opportunities for kids in the area to have well-paid and challenging careers.

“For those in university, who are having to make the decision on a career path, to know that there is an engineering career where they can stay in the area is very big.

“Can you imagine the amount of supermarkets you will need to build the local economy up by ten per cent?”

Sirius has a number of agreements with international companies to supply polyhalite, including Sinoagri, one of China’s largest fertiliser distributors, which is due to receive 500,000 tonnes every year in a ten-year partnership.

Its plans have been supported by Sembcorp Utilities UK, the group which supplies electrical power and steam to industrial customers, and runs the Wilton 10 biomass power station.

Sembcorp owns much of the development land at Wilton where connections to Sirius’ processing plant will cross, and Dr Douglas Annan, Sembcorp Utilities UK’s senior vice-president and site director, said it would be a key addition to the region.

He added: “Sirius is well aware of the advantages of locating at Wilton, not least because of the superb infrastructure and close proximity to the River Tees.

“These factors, along with an availability of a trained, skilled workforce, mean minerals processing has the potential to be an important growth sector for the site in the coming years.”