Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining
18 July 2018
Harvest Minerals Limited ('Harvest' or the 'Company')
Arapua Project Update
Harvest Minerals Limited, the AIM quoted natural fertiliser producer, is pleased to provide an update on its producing Arapua multi-nutrient direct application natural remineraliser project ('Arapua') located in the heart of the Brazilian agriculture belt in Minas Gerais.
Overview
Approval from the Ministry of Agriculture ('MAPA') in Brazil to register KPfértil as a remineraliser
Trademark approval for KPfértil, the brand name of its multi-nutrient natural remineraliser
Advancing business plan and commissioned enlarged 320Ktpa modular processing plant
Submitted final studies to the Brazilian Department of Mines ('DNPM') as part of application for a Full Mining Licence ('FML') whilst continuing to operate under trial mining licence
Brian McMaster, Executive Chairman of Harvest, said, "Gaining certification from MAPA for KPfértil, our
proven, multi-nutrient, slow release, organic remineraliser, is a great outcome and places us in an even stronger position to advance sales. Following the recent oversubscribed placing, we have progressed our business plan and commissioned the enlarged plant to accommodate the production of 320Ktpa and its delivery to market; this will support the existing and anticipated sales pipeline. Remaining on the theme of sales, our strategy going forward is to provide updates on sales at our final and half-yearly results, unless significant."
Further information
The Company received confirmation yesterday from MAPA that it has approved the Company's application to register KPfértil as a remineraliser. The Company has also received trademark approval for KPfértil, the brand name of its multi-nutrient natural fertiliser and remineraliser, by the Instituto Nacional da Propriedade Industrial in Brazil. The trademark has been officially registered for an initial ten years and is an integral part of the Company's corporate identity in Brazil.
Additionally, Harvest has submitted the Environmental Report and Feasibility Study to the DNPM as part of the final application process for the FML; the DNPM now has up to one year to grant the licence. These are the final submissions required. Meanwhile, the Company continues to operate under its current Trial Mining Licence granted in December 2015 for four years.
Following the recently announced oversubscribed placing, which raised £9.7 million, the Company has advanced its business plan and commissioned the enlarged 320Ktpa modular processing plant, which willsupport the existing and anticipated sales pipeline in line with its expanding sales and marketing activities during 2H 2018.
*ENDS*
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
For further information please visitwww.harvestminerals.netor contact:
Harvest Minerals Limited | Brian McMaster (Chairman) | Tel: +44 (0) 20 7317 6629 |
Strand Hanson Limited | James Spinney | Tel: +44 (0)20 7409 3494 |
(Nominated & Financial Adviser) | Ritchie Balmer | |
Arden Partners plc | Tim Dainton | Tel: +44 (0) 20 7614 5900 |
(Joint Broker) | Paul Brotherhood | |
Paul Shackleton | ||
Shard Capital Partners | Damon Heath | Tel: +44 (0) 20 7186 9900 |
(Joint Broker) | ||
St Brides Partners Ltd | Isabel de Salis | Tel: +44 (0)20 7236 1177 |
(Financial PR) | Gaby Jenner | |
Notes |
Harvest Minerals (HMI.L) is a Brazilian focused fertiliser producer advancing the 100% owned Arapua Fertiliser Project, which produces KPfértil, a proven, multi-nutrient, slow release, organic fertiliser and remineraliser. KPfértil offers many economic and agronomic benefits and addresses the significant demand for locally produced fertiliser in Brazil, with its abundant agricultural land; currently, the country imports 90% of the potash it uses but has a target to be self-sufficient in fertilisers by 2020. Covering 14,946 hectares and located in the heart of the Brazilian agriculture belt in Minas Gerais, Arapua is a shallow, low cost mine with an indicated and inferred resource of 13.07Mt at 3.1% K2O and 2.49% P2O5. This is based on drilling just 6.7% of the known mineralisation, leaving significant upside potential. This resource is equivalent over 29 years' production and the known mineralisation expected to support 100+ years'
production at 450,000 tonnes per annum.
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Disclaimer
Harvest Minerals Limited published this content on 18 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 July 2018 06:16:06 UTC