Sirius Exploration, an AIM-listed mining company focused on North America and Australia, has acquired Derby Salt for £13 million.

Australia-based Derby Salt holds mineral leases in excess of 125,000 hectares in the Kimberley region of Western Australia, where it specialises in salt and potash mining. Sirius believes that in addition to the company's salt and potash operations, there is potential for using the Derby Salt acreage to create salt caverns to store natural gas and carbon dioxide.

Richard Poulden, the chairman of Sirius, said: 'We believe that the demand for potash, salt and energy storage will increase worldwide and the acquisition of Derby Salt in Western Australia will complement our similar activities in North Dakota and Queensland.'

Sirius reported net losses of £532,748 in the year ending March.