Company
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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Following the granting of a positive environmental permit Highfield is now focusing on securing the mining concession and the construction permits necessary to take the Muga Project into the construction phase.
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Highfield aims to mine relatively shallow sylvinite beds covering around 60 square kilometres within the Muga Project.
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The company is continuing constructive discussions with authorities from Madrid, Navarra and Aragón with regards to mining concessions at the Muga project.
Work on the Mining Concession submission is well advanced. Positive discussions are continuing with authorities and final submission is expected in early 2020.
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The project is targeting shallow sylvinite beds in the Spanish provinces of Navarra and Aragon and mining is set to begin at a depth of 350 metres, ideal for a relatively low-cost conventional mine.
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The company is an ASX-listed potash company with four 100%-owned tenement areas in northern Spain.
The company hopes to start construction at the $1.7 billion Fort Cady Boron Project in the December 2019 quarter.
The company has a 33% interest in highly-rated German potash assets, 7.3 million Lithium Australia NL (ASX:LIT) shares and prospective greensands tenure in Western Australia.
The company has a 26% interest in highly-rated German potash assets, 7.3 million Lithium Australia NL (ASX:LIT) shares and $2 million in cash.
The non-binding agreement with a company such as Cargill is further validation of the Muga project’s quality. Parties to the agreement will discuss initial tonnages and potential sales of other specialty salts.
Highfield has received a Buy rating from Foster Stockbroking, with a $2.30 share price target. Highfield shares last traded at $1.43.
The agreements with fertilizer traders for 100% of first phase production demonstrates the strong project economics and attractiveness of the Muga product, underpinned by location, infrastructure and cost advantages, as well as de-risk the
The approvals process is nearing completion for Highfield’s Muga Potash Mine in Spain, providing a window to evaluate downstream processing that would boost profit margins further and diversify its product offering.
With over 30 years´ experience as an international mining executive with has a proven track record in mine building and operations, Peter Albert's appointment heralds a seamless transition as Highfield moves toward construction phase
The Muga Potash Mine is positioned by Highfield to be one of, if not the highest margin global producer. The offtake sales agreements further de-risk the company as it moves towards commencing construction this year.
Bell Potter noted: "Key milestones for HFR in 1HCY16 include the receipt of a positive environmental declaration and the granting of the mining concession for their flagship Muga Potash Project in Spain."
The mine will have sufficient resources to be mined for at least 40 years with a long term positive impact expected on the region’s economy with 800 direct jobs to be created. Over 3,500+ new direct and indirect jobs are estimated to
Harvest Minerals is well positioned to supply potash into one of the world's biggest markets
Taylor Collison wrote: "We continue to maintain the view that there is considerable unrealised value in Highfield Resources and maintain our Speculative Buy recommendation."
