Harvest Minerals Ltd (LON:HMI) has signed a major sales order with Agrocerrado Produtos Agricolas e Assistencia Tecnica LTDA, a fertiliser distributor in Brazil, and said additional discussions regarding sales are on-going.
The order is for 36 kilotonne (Kt )of KPfertil, the company’s multi-nutrient natural fertiliser and remineraliser produced at its Arapua Feriliser project in Minas Gerais, Brazil.
The AIM-listed potash and phosphate exploration and development company said the supply will come from existing stock already produced at Arapua, where annual capacity is being expanded to 320,000 tonnes.
The delivery will commence in early May 2018.
Brian McMaster, Harvest’s chairman, said: “With a sales value in excess of US$2mln, this is truly fantastic news, and proves that we have a commercial product that is in demand in one of Brazil’s premier agricultural belts.”
He concluded: “The focus is now on sales and revenue growth as we transform Harvest into a profitable business with the aim of providing significant returns to all our shareholders.”