Company
Highfield Resources Ltd
ASX:HFR
Highfield Resources Ltd (ASX:HFR) is a potash company that focuses on its flagship low-cost, low-capex Muga Project in Spain. The company’s potash tenements Muga-Vipasca, Pintanos and Sierra del Perdón are in the Ebro potash producing basin in northern Spain, covering an area of around 276 square kilometres. Once in production, the project is forecast to be one of the highest margin potash mines in the world.
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Highfield Resources focused on developing world-class Muga Potash Mine in Spain
The mine will have extremely competitive and versatile export options to Europe for muriate of potash (MOP) and its salt by-product.
Highfield Resources authorised to build Muga potash process plant on non-urbanised land
“The authorisation for the process plant from the Government of Navarra was the necessary step to confirm the adequacy of the Muga project to all aspects of urbanistic planning legislation related to its location in Sangüesa, Highfield Reso
Highfield Resources reconfirms Muga’s compelling economics with feasibility study update
“The company has done a lot of work with the banks in reviewing and mitigating the effect of the current global inflationary environment resulting in a thoroughly reviewed and updated feasibility study which reconfirms the outstanding value
Highfield Resources secures €320.6 million in senior secured project financing for Muga development
The credit approval complements Highfield’s stringent cash preservation strategy, which sees it with a cash balance at the end of the third quarter of A$11.3 million.
Highfield Resources forges ahead with Muga Potash Mine construction, ahead of time and on budget
“The grant of the licence in Undués in June has been critical to start work around the mine gate and to take advantage of the dry summer months to progress construction," CEO Ignacio Salazar said.
Highfield Resources shares rise after signing indicative term sheet for €23.3 million facility with Macquarie for Muga Potash Mine
In May, Highfield signed a project financing mandate letter with a group of experienced European mining finance lenders for a €312.5 million senior secured project financing package.
Highfield Resources launches community-minded Muga Community Initiative
The Muga Community Initiative is a social development project that encourages and facilitates collaboration and involvement between the local public administrations and the private sector.
Highfield Resources higher as construction kicks off at Muga Potash Mine in Spain
“We are working closely with the authorities and especially Navarra and Sangüesa to finalise the licensing there and will be reporting back to the market as we progress through construction,” says CEO Ignacio Salazar.
Highfield Resources secures construction licence for Muga Project’s underground development
“This is a pivotal milestone for the project which allows us to start the construction of Muga in the next few days with the initial works around the mine gate. With this licence from Aragón, Highfield is now one big step closer to building
Highfield Resources secures €312.5 million financing package for Muga Project in Spain, shares up
“The strategic location of Muga in southern Europe is being viewed more favourably than ever in the current geopolitical situation, making it an attractive candidate for financing from the international banking community,” says CEO.
Highfield Resources agrees term sheet for €312.5 million senior secured project financing package
The facilities from a group of experienced European mining finance lenders will cover a substantial portion of the pre-production investment required to complete the construction of Muga Potash Project in Spain.
Highfield Resources receives authorisation for electricity line construction to Muga Potash Project in Spain, shares up
“The authorisation for the electricity line from the Government of Navarra is the first concrete result from a lot of work undertaken with the local urbanistic administrations,” says CEO.
Highfield Resources to appoint Paul Harris as new chairman following global search
Harris will be appointed independent non-executive director and chairman of the board with effect from March 25, 2022.
Highfield Resources inks key purchase contracts advancing Muga Mine towards construction
With the execution of these two contracts, the company has now signed purchase contracts for all of Muga Mine’s critical process plant equipment.
Highfield Resources maintains Buy recommendation from Foster Stockbroking
The company’s recent revised feasibility study for the Muga-Vipasca Potash Project in Spain returned promising financial projections, including EBITDA of around €400 million per annum at full production.
Highfield Resources' feasibility study update reconfirms "compelling economics" of potash project
The latest feasibility study is based on more refined economic and engineering data than the previous study, and the company is confident of high returns over the 30-year life of the proposed mine.
Highfield Resources updates ore reserve and mine life plan at Muga-Vipasca Potash Project
The company is progressing rapidly towards construction at its flagship project in Spain, which will be one of the highest-margin potash mines in the world.
Highfield Resources attracts buy recommendation from Foster Stockbroking, maintains price target of $1.56
The company is making strong progress toward construction at flagship Muga Potash Project that is forecast to be one of the highest margin potash mines in the world
Highfield Resources CEO and managing director shows faith in Spanish potash strategy with on-market purchase
Once in production, the company’s Muga Project is forecast to be one of the highest margin potash mines in the world.
Highfield Resources signs purchase contract for process plant equipment at Muga Potash Project
The key equipment deal with Weir Minerals advances Highfield Resources a step closer to low cost, low capex potash production at Muga.
Highfield Resources making strong progress toward construction at flagship Muga Potash Project
The Muga Project in Spain is forecast to be one of the highest margin potash mines in the world.
Highfield Resources completes $3.1 million SPP taking capital raising proceeds to $18.1 million
“With the successful completion of the SPP, Highfield continues to progress the Muga project to construction,” says CEO.
Highfield Resources signs MoU with Port of Bilbao to enhance Muga potash supply chain
Bilbao will facilitate the implementation of the requisite logistics infrastructure and services at the port to efficiently meet the project’s logistical needs.
Highfield Resources extends SPP closing date by a week to September 3
The company plans to raise $4 million through the issue of shares to eligible shareholders at $0.52 per share and free from any brokerage or transaction costs.
Highfield Resources opens SPP to raise $4 million after successful $15 million placement
Investors can acquire a minimum of $1,000 and up to, in aggregate, $30,000 of shares in Highfield at an issue price of $0.52 per share free from any brokerage or transaction costs.
Highfield Resources raising up to A$19 million for pre-construction at Muga Potash Project
The company plans to use proceeds from the placement in providing a runway to pursue project finance and other strategic alternatives to fund the construction and also to complete the preconstruction activities.
Highfield Resources signs updated MoU with Port of Pasajes for up to 700,000 metric tonnes per annum of muriate of potash and salt
With excellent road and rail connections, Port of Pasajes currently handles around three million tonnes of dry bulk product annually.
Highfield Resources appoints CEO Ignacio Salazar to managing director role
Highfield’s Ignacio Salazar will continue to serve as CEO as he takes on the managing director appointment and joins the company's board.
Highfield Resources prepares to enter construction at flagship Muga Potash Project in Spain
Highfield is nearing construction at its Muga Project in Spain, where it believes the Muga Potash Mine could become one of the highest-margin potash mines in the world.
Highfield Resources buoyed as Navarra president states project will be important for economic recovery
Maria Chivite and other regional officials participated in an event to commemorate the award of Mining Concessions for the Muga Potash Project in northern Spain.
Highfield Resources higher on being granted Mining Concession for Muga Potash Project
Mining Concessions for the Muga Project in Spain, namely Fronterizo, Muga and Goyo, have been approved and signed by the three administrations in Madrid, Aragón and Navarra.
Highfield Resources halted with news pending on status of Mining Concession for Muga Potash Project
Securities will remain halted until Tuesday, July 6, 2021, or when an announcement is released to the market.
Highfield Resources welcomes permitting progress towards Muga Potash Project development
Mining authorities of Madrid, Aragón and Navarra are satisfied with the Mining Concession documentation submitted for the project.
Highfield Resources delivers last report required for Muga Potash Project Mining Concession documentation
The company also continues to engage with key brokers and strategic partners as it prepares to secure the equity portion of the financing at some stage after the receipt of the mining concession.
Highfield Resources hopes for "swift conclusion to Mining Concession process" at Muga Potash Project in Spain
The company has already signed non-binding MOUs representing more than its full phase-1 production capacity for potash and salt.
Highfield Resources welcomes Social Baseline Study from Government of Navarra on positive socio-economic outlook for Muga Potash Project
The study assessed the social and economic situation of the local community and the potential impact of the mine, concluding it could significantly boost the economies of rural communities by generating employment and indirect business oppo
Highfield Resources submits final section of mining concession documentation for Muga Potash Project in Spain
Once in production, the company’s Muga Project in Spain's north is forecast to be one of the highest margin potash mines in the world.
Highfield Resources non-executive director James Dietz resigns after serving five years on board
Once in production, the company’s Muga Project in Spain is forecast to be one of the highest margin potash mines in the world.
Highfield Resources appoints Katelyn Adams to role of company secretary
The company’s flagship project is the Muga Potash Project, which covers an area of some 80 square kilometres in the Spanish provinces of Navarra and Aragón.
Highfield Resources ready to issue engineering documentation to construction partner for flagship Muga Potash Project
The potash company is in a position to proceed with the project as soon as the mining concession is granted, as there will be no significant new financial commitments until that point.
Highfield Resources appoints Endeavour Financial as debt financial advisor for Muga Potash Project in Spain
Endeavour has successfully raised more than US$4 billion for junior and small cap mining companies in debt financing.
Highfield Resources securing key Joy miner bolter for development of Muga Potash Project
The miner bolter being purchased from Komatsu will be used initially to develop underground access declines at the Spanish mine and then to develop the main underground infrastructure galleries.
Highfield Resources granted high voltage power supply authorisation for Muga Potash Project
Beyond construction licences and the issue of the mining concession, these are essential approvals necessary to proceed with the construction of the overhead lines and substations that will provide grid power to Muga mine.
Highfield Resources progressing towards construction of flagship Muga Potash Project in Spain
The company’s main focus is on the development of the Muga Project as it nears a final investment decision and the commencement of construction.
Highfield Resources completes consultation process for Muga Potash Project mining concession
Authorities are now focusing on reviewing reports received from other consulted parties and responding to their questions and submissions.
Highfield Resources progresses Muga Potash Project mining concession dialogue as next step towards construction
The company is continuing discussions with potential potash and salt offtake partners as part of its sales and marketing strategy.
Highfield Resources highlights Muga Potash Project sustainability successes in new report
Health, Safety and Environmental management remains at the forefront of the company’s operating activity protocols as it progresses towards construction of the Spanish project.
Highfield Resources set to lift potash bounty with strong results from Spanish project
The aim of the current drilling program is to confirm and delineate the Muga deposit in the western-most area.
Highfield Resources signs offtake MOU for salt from Spanish project
The agreement for the annual sale of 400,000 tonnes of vacuum salt and 100,000 tonnes of de-icing salt are by-products from the Muga Potash Mine in Spain.
Highfield Resources appoints experienced international mining director as CEO
Board chairman Richard Crookes will continue to act in the interim CEO role until July 2020.