Harvest Minerals Limited Switch to Grid Power (5257Q)
20 February 2019 - 6:00PM
UK Regulatory
TIDMHMI
RNS Number : 5257Q
Harvest Minerals Limited
20 February 2019
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
20(th) February 2019
Harvest Minerals Limited ('Harvest' or the 'Company')
Switch to Grid Power
Harvest Minerals Limited, the AIM listed fertiliser producer, is
pleased to announce that the Brazilian Energy company CEMIG has
connected the Company's Arapua, multi-nutrient, direct application,
natural fertiliser project in Brazil ('Arapuá' or 'the Project') to
the main electricity grid. To view the announcement with
illustrative pictures, please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5257Q_1-2019-2-19.pdf
In May, 2018 Harvest received all the required permits to
connect the project to the power grid and as part of the plant
expansion last year installed a 600KW power substation and two
transformers to supply the plant and the office and other onsite
facilities.
In early January, this infrastructure was connected to the grid
by CEMIG, before being tested and approved by the CEMIG technicians
on 18(th) February. Receiving power from the national grid also
represents a potential cost saving to the Company, having
previously relied on higher cost diesel power.
The current installed capacity exceeds the maximum current
demand by 15% and can easily be upgraded to 2,500kW.
Harvest's Executive Chairman, Brian McMaster, said, "The plant
upgrade and expansion we installed last year is working well and by
switching from diesel to grid power we will be able to continue to
control costs and maintain our position as one of the lowest cost
producers in the world."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014
*ENDS*
For further information please visit www.harvestminerals.net or
contact:
Harvest Minerals Limited Brian McMaster Tel: +44 (0) 20 7317
(Chairman) 6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
Nominated & Financial Adviser Ritchie Balmer 3494
Arden Partners plc Tim Dainton Tel: +44 (0) 20 7614
Joint Broker Paul Brotherhood 5900
Paul Shackleton
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186
Joint Broker 9900
St Brides Partners Ltd Isabel de Salis Tel: +44 (0)20 7236
Financial PR Gaby Jenner 1177
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,
MAPA-certified 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%
K(2) O and 2.49% P(2) O(5) . 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.
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 rns@lseg.com or visit www.rns.com.
END
MSCTLMFTMBTBBBL
(END) Dow Jones Newswires
February 20, 2019 02:00 ET (07:00 GMT)
Harvest Minerals (LSE:HMI)
Historical Stock Chart
From Apr 2024 to May 2024
Harvest Minerals (LSE:HMI)
Historical Stock Chart
From May 2023 to May 2024