NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Highfield Resources secures final construction licence to proceed with Muga Potash Mine’s process plant

Published 29/03/2023, 10:24 am
© Reuters.  Highfield Resources secures final construction licence to proceed with Muga Potash Mine’s process plant
IX
-

The remaining licence for the construction of a process plant for Highfield Resources Ltd (ASX:HFR)’s Muga Potash Mine in Spain has been granted by the local authority, the Townhall of Sangüesa in Navarra.

This was the last pending licence needed to begin full-scale construction at Muga.

The local townhalls – or councils – of Undués de Lerda (Aragón) and Sangüesa (Navarra) are the responsible approving authorities for the mine gate and the process plant construction licences respectively.

Full-scale construction to begin

After the grant of the mining concession, these two licences were essential for the construction of the Muga project. The company can now start full-scale construction of Muga comprising the civil works, the process plant and the ramps.

To expedite the process, the company requested an amendment to the licence, which provided for the exclusion of a small parcel of public land that required a more extended licensing process.

This does not impact the construction of the Muga process plant and only slightly affects the southern ponds.

Highfield expects that this parcel of land will be included in the licence as construction starts.

Finalising the works around the mine gate area last year has given the company a good head-start on the overall construction plan, and it now plans to finalise the financing srategy, the remaining construction contracts and all other preparatory work before starting construction in the second half of 2023.

Closes a long permitting chapter

CEO Ignacio Salazar said: "The grant of the pending construction licence in Navarra for the process plant is a critical milestone for Muga.

“I do not think I am exaggerating by saying that we all feel this licence closes a long permitting chapter for Highfield.

“I would like to thank all our stakeholders, staff and shareholders for their continued support. The company will now focus on building Muga as soon as possible.”

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.