Highfield Resources Ltd (ASX:HFR) has signed an updated non-binding memorandum of understanding (MoU) with the Port Autthority of Pasajes in northwest Spain, confirming the availability of sufficient port capacity for up to 700,000 metric tonnes per annum of muriate of potash and salt.
Pasajes will facilitate the implementation of the requisite logistics infrastructure and services at port to efficiently attend to Highfield’s needs.
The port, which is the closest port to Highfield's Muga Project mine site and is one of the largest commercial ports in the region, also commits to have all facilities for product handling and shipping operational from Muga’s phase-1.
“Swift progress towards construction”
Highfield chief executive officer Ignacio Salazar said: “The company is focused on making swift progress towards the construction of Muga and this MOU with the port of Pasajes is another step in that direction.
“The Port of Pasajes will be a key export terminal for Muga given its proximity to the Mine and will be instrumental for Muga to be a low-cost potash project.”
After the granting of the Mining Concession, Highfield is updating its key sales and marketing MOUs.
This partnership with the Port of Pasajes allows Highfield to develop and implement its sales and marketing strategy.