Harvest Minerals Limited (LON:HMI) said it has been informed by the Ministry of Agriculture in Brazil that it has conditionally approved the company's application to register KPfértil as a remineraliser, pending the submission of additional materials which has now been done.
The AIM-listed natural fertiliser producer said it has been advised that the submitted materials will be reviewed expeditiously, with final approval from MAPA expected this quarter.
READ: Harvest Minerals adds to sales and manufacturing capacity ahead of KPfertil ramp-up
Harvest's executive chairman, Brian McMaster, said, "This is welcome news, although it's important to note that the delay in gaining certification from MAPA has not impacted our ability to sell KPfértil, as highlighted by a recent 36Kt order from a major fertiliser distributor in Brazil.”
He added: “The process has taken longer than we anticipated, although this is largely because this is an entirely new process put in place by MAPA to facilitate approval, rather than any product issues.
“Meanwhile, we are busy completing the plant expansion, which will enable us to process 320,000 tonnes of KPfértil per annum; all the equipment is now on site and is being installed and we have also received all the necessary permits to switch to grid power.
“These advancements will facilitate the continued growth of sales and revenues as we look to establish Harvest as a highly profitable business."