Approval of Final Exploration Report

RNS Number : 2321J

Harvest Minerals Limited

29 March 2018

 

Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining

29^th March 2018

Harvest Minerals Limited ('Harvest' or the 'Company')

Approval of Final Exploration Report of Natural Fertiliser Project

Harvest Minerals Limited, the AIM listed natural fertiliser producer, is pleased to announce that the Company's Final Exploration Report ('FER') for its Arapua Fertiliser Project has been approved by Department of Mines ('DNPM') inspector for Minas Gerais, following assessment and a site visit.  The report, which was submitted in April 2017, represents a further step in the application for a Full Mining License ("FML") and will now be sent to the DNPM office in Brasilia, which will publish the approval in the official Gazette.

Following the FER approval, the Company intends to submit its environmental report and then a feasibility study as the final steps in the application process for the FML. 

At present, the Company operates under a four-year Trial Mining Permit, allowing Harvest to extract 50kt of product on a rolling basis and deliver product to existing customers.

Harvest's Executive Chairman, Brian McMaster, said, "The approval of our FER is a great endorsement of all the work we have undertaken over the past two years.  We are now focused on submitting an environmental report and feasibility study; work on both reports has already started. In the meantime, the Company continues to produce and deliver product under its trial mining permit."

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 (Chairman)	Tel: [phone]
Strand Hanson Limited (Nominated & Financial Adviser)	James Spinney Ritchie Balmer	Tel: [phone]
Shard Capital Partners (Broker)	Damon Heath	Tel: [phone]
St Brides Partners Ltd	Isabel de Salis	Tel: [phone]
	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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