Harvest Minerals Limited Expansion of Open Pit & Increased ROM Storage (0948N)
23 September 2019 - 4:00PM
UK Regulatory
TIDMHMI
RNS Number : 0948N
Harvest Minerals Limited
23 September 2019
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
23 September 2019
Harvest Minerals Limited ('Harvest' or the 'Company')
Expansion of Open Pit & Increased ROM Storage Capacity
Harvest Minerals Limited, the AIM listed fertiliser producer, is
pleased to announce that it has expanded the current mining area
and added additional run of mine ('ROM') storage capacity at its
Arapua Project ('Arapua') in Brazil, where it produces KPFértil, a
multi-nutrient direct application natural remineraliser.
Highlights
-- Current open pit expanded exposing a further 70Kt of weathered ore
-- Ore being extracted using Company's own equipment
-- Additional ROM storage capacity added adjacent to open pit
Brian McMaster, Executive Chairman of Harvest stated, "In order
to meet current sales and to ensure we have sufficient stock for
the start of next season, we have expanded the current mining area.
Additionally, given the growing demand for our product in tandem
with planned growth, we have also expanded our ROM storage
facilities. This gives us more flexibility both in how we handle
our ore, but also in how we can further develop our production and
product storage facilities going forward to enable us to better
service our customers. This follows our recent announcement
regarding the newly approved big bag handling and storage facility,
again to help us to service a broader range of clients."
Full Details
Harvest has increased the size of the current open pit, by
stripping the soil cover from an area of 6,000m(2) and exposing
70kt of weathered kamafugite, which is being mined using the
Company's own equipment. Due to the heavily weathered nature of the
ore, it requires no blasting and is simply being loaded onto trucks
by a loader to be taken to the ROM storage area. As part of this
work, a new ROM storage area has been created adjacent to the pit.
In total 10kt of topsoil was removed and stored in the organic
stockpile, where it will be used for environmental restoration at a
later date.
To view this announcement with illustrative images, please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/0948N_1-2019-9-20.pdf
Figure 1: View of the extended mining area
Figure 2: Organic stockpile used for environmental
rehabilitation
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
Dr Mark Heyhoe
(COO)
Strand Hanson Limited James Spinney Tel: +44 (0) 20 7409
Nominated & Financial Adviser Ritchie Balmer 3494
Jack Botros
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186
Broker 9900
St Brides Partners Ltd Isabel de Salis Tel: +44 (0) 20 7236
Financial PR 1177
Notes
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 rns@lseg.com or visit www.rns.com.
END
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