Update on Mining License
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining
22nd July, 2019
Harvest Minerals Limited ('Harvest' or the 'Company')
Update on Mining License
Harvest Minerals Limited, the AIM listed fertiliser producer, is pleased to provide an update on the status of its application for a full mining license for the Company's Arapua Project, located in the heart of the Brazilian agricultural belt in Minas Gerais. Arapua is fully operational and producing KPFértil, a multi-nutrient direct application natural remineraliser product.
The Agência Nacional de Mineração (ANM), formerly the Departamento Nacional de Produção Mineral, has confirmed its acceptance of the Company's Plano de Aproveitamento Econômico ("the Company Plan") submitted by the Company in July 2018. In essence, the Company Plan is a Feasibility Study wherein the Company demonstrates that the Arapua project is technically and economically feasible. The confirmation of its acceptance of the Company Plan and its content is the final step in the ANM's consideration of the Company's application for a full mining license.
Additionally, the Superintendencia Regional de Regularização Ambiental (Environmental Department or SUPRAM) has confirmed its acceptance of the Company's Environmental application. The final step in the environmental approval process is a site visit which the Company's expects will occur later in Q3. Assuming the site visit by SUPRAM identifies no issues, the approvals from ANM and SUPRAM will be sent to the Minister of Mines in Brasilia for final approval. At this stage, the Company expects final approval around the end of Q4 2019. Meanwhile, the Company continues to operate unhindered under its current Trial Mining Licence.
Brian McMaster, Executive Chairman of Harvest stated, "This acceptance of both The Company Plan and the Environmental application propels the Company into the final stages of these permitting processes. Our application for the full mining license has been steadily progressing through all the required administrative stages; the ANM have responded to us within the required time frame and we expect the final administrative hurdles to be completed and the Mining License to be granted around year end. Meanwhile, our production facilities continue to operate under our existing license as we continue to develop the KPFertil brand through the work of our dedicated sales and marketing team."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
For further information please visit www.harvestminerals.net or contact:
Harvest Minerals Limited
Brian McMaster (Chairman)
Dr Mark Heyhoe
Tel: +44 (0) 20 7317 6629
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Strand Hanson Limited
Nominated & Financial Adviser
Tel: +44 (0)20 7409 3494
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Shard Capital Partners
Tel: +44 (0) 20 7186 9900
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St Brides Partners Ltd
Isabel de Salis
Tel: +44 (0)20 7236 1177
Harvest Minerals Limited (HMI.L) is an AIM-quoted low-cost and high margin Brazilian fertiliser producer, located in the heart of the largest and fastest growing fertilizer market in Brazil.
Our product, KPFértil, is a registered and approved organic multi-nutrient direct application fertiliser. It contains many of the essential nutrients and minerals required by plants and, unlike most fertilisers, it does not require any complex processing or chemically alteration, instead it can be applied directly to crops.
KPFértil is produced at the wholly owned Arapua project, that consists of a fully permitted mine, production and storage facilities able to produce and deliver KPFértil to customers. Known mineralisation at the Project is expected to support 100+ years' production at 450Ktpa.
Our focus now remains on growing our business and we have the dedicated in-country sales and marketing team with the skills, experience and contacts to sell KPFértil into the potential multi-Mtpa market on the doorstep of the Project.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
Quick facts: Harvest Minerals Ltd.
Market Cap: £8.2 m
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