Subsidiary Companies
Australia – Queensland
The Company has a 71.15% stake in AusPotash Corporation and an agreement to acquire the balance subject to certain tax issues. AusPotash’s wholly-owned subsidiary, Queensland Potash Pty Limited, holds exploration permits covering an area of approximately 280 square kilometres in a region of Queensland, Australia, overlying the Boree Salt Member, a formation recognised for its significant salt and potash deposits.
Sirius also has a 100% interest in Adavale Holdings Pty which holds mineral exploration permits covering nearly 320 sq km of land adjacent to the Queensland Potash permit area also overlying the Boree Salt Member. Combined, they provide Sirius with over 600 square kilometres of exploration permits in Queensland, Australia.
www.auspotash.com
www.queenslandpotash.com/ Adavale Holdings Pty
Australia – Kimberley
Sirius’s wholly owned subsidiary, Derby Salt Pty, holds mineral leases in excess of 1250 square kilometres in the Kimberley region of Western Australia. These leases and permits allow for the exploration and extraction of salt and potash and the creation of caverns for the storage of natural gas or potentially carbon dioxide.
North America - North Dakota
During 2009, Sirius acquired all of the issued share capital of Dakota Salts LLC. Dakota Salts holds some 5,000 acres of exploration leases in the Williston Basin in North Dakota covering known potash and salt deposits.
In addition to mineral deposits, Sirius is working closely with Dakota Salts to examine the prospects for using the salt caverns for natural gas storage from various nearby pipelines as well as potentially for compressed air energy storage (CAES) to generate electricity.
www.dakotasalts.com
Sequestration and Storage Technologies
Sirius, through its wholly owned subsidiaries CO2 Energy Storage Pty Ltd, Bicarb Sequestration Pty Ltd (Queensland), and CO2 Energy Storage Ltd (Nevada, USA), is additionally working on a range of innovative approaches for both the storage of CO2 in salt caverns and the sequestration of CO2 in salt beds.
Sirius is also working with the three companies on an innovative new technology which takes the concept of CAES (compressed air energy storage) and revises it to use compressed CO2 rather than compressed air to generate electricity. For further information on these projects, visit:
http://co2energystorage.com/
http://bicarbsequestration.com/
China
In November 2009, Sirius announced that it had sold its 3% Net Working Interest in the Bobai Bishop Tungsten mine in China for a stake in a new CIC Mining Resources Ltd vehicle which consolidates CIC’s iron ore interests and which CIC anticipates listing on a major exchange in the first half of 2010.
www.cicresources.com
Macedonia
Sirius retains its interests in Macedonia which are now directly operated by the Company following the successful conclusion of the joint venture program with Phelps Dodge (now Freeport McMoRan). Sirius has submitted its application to allow it to restructure its Macedonian licenses in line with new Macedonian mining law.
The Company has a 71.15% stake in AusPotash Corporation and an agreement to acquire the balance subject to certain tax issues. AusPotash’s wholly-owned subsidiary, Queensland Potash Pty Limited, holds exploration permits covering an area of approximately 280 square kilometres in a region of Queensland, Australia, overlying the Boree Salt Member, a formation recognised for its significant salt and potash deposits.
Sirius also has a 100% interest in Adavale Holdings Pty which holds mineral exploration permits covering nearly 320 sq km of land adjacent to the Queensland Potash permit area also overlying the Boree Salt Member. Combined, they provide Sirius with over 600 square kilometres of exploration permits in Queensland, Australia.
www.auspotash.com
www.queenslandpotash.com/ Adavale Holdings Pty
Australia – Kimberley
Sirius’s wholly owned subsidiary, Derby Salt Pty, holds mineral leases in excess of 1250 square kilometres in the Kimberley region of Western Australia. These leases and permits allow for the exploration and extraction of salt and potash and the creation of caverns for the storage of natural gas or potentially carbon dioxide.
North America - North Dakota
During 2009, Sirius acquired all of the issued share capital of Dakota Salts LLC. Dakota Salts holds some 5,000 acres of exploration leases in the Williston Basin in North Dakota covering known potash and salt deposits.
In addition to mineral deposits, Sirius is working closely with Dakota Salts to examine the prospects for using the salt caverns for natural gas storage from various nearby pipelines as well as potentially for compressed air energy storage (CAES) to generate electricity.
www.dakotasalts.com
Sequestration and Storage Technologies
Sirius, through its wholly owned subsidiaries CO2 Energy Storage Pty Ltd, Bicarb Sequestration Pty Ltd (Queensland), and CO2 Energy Storage Ltd (Nevada, USA), is additionally working on a range of innovative approaches for both the storage of CO2 in salt caverns and the sequestration of CO2 in salt beds.
Sirius is also working with the three companies on an innovative new technology which takes the concept of CAES (compressed air energy storage) and revises it to use compressed CO2 rather than compressed air to generate electricity. For further information on these projects, visit:
http://co2energystorage.com/
http://bicarbsequestration.com/
China
In November 2009, Sirius announced that it had sold its 3% Net Working Interest in the Bobai Bishop Tungsten mine in China for a stake in a new CIC Mining Resources Ltd vehicle which consolidates CIC’s iron ore interests and which CIC anticipates listing on a major exchange in the first half of 2010.
www.cicresources.com
Macedonia
Sirius retains its interests in Macedonia which are now directly operated by the Company following the successful conclusion of the joint venture program with Phelps Dodge (now Freeport McMoRan). Sirius has submitted its application to allow it to restructure its Macedonian licenses in line with new Macedonian mining law.