- Highfield Resources (HFR) has been issued a key licence by the Townhall of Undués de Lerda in Aragón for its Muga project in Spain
- With this licence, the potash company can proceed to construct a mine gate and two underground declines at the project
- CEO Ignacio Salazar says this is a “pivotal milestone” that allows Highfield to take the next step of developing its potash mine, with work to begin in the next few days
- HFR shares are up 23.5 per cent to trade at 84 cents at 11:06 am AEST
Highfield Resources (HFR) has been issued a key licence to construct a mine gate and two underground declines.
The Townhall of Undués de Lerda in Aragón issued the licence, allowing the company to build a mine gate and the two declines at the Muga project in Spain.
This comes roughly one year after the potash company was granted a mining concession for Muga, which it described as being a “unique” project. The project lies within a region with high-quality and readily accessible infrastructure already in place and is positioned to meet European potash supply issues.
Ahead of being issued the licence, Highfield Resources had already tendered and contracted initial works to start on-ground construction activities at the mine gate in the next few days.
Highfield CEO Ignacio Salazar said the grant of the construction licence came at a time when the Muga project and financing were “well advanced”.
“This is a pivotal milestone for the project which allows us to start the construction of Muga in the next few days with the initial works around the mine gate,” Mr Salazar said.
“While we start construction, the company will focus on completing the financing and finalising the licencing process in Navarra.”
The company said it was now “one big step closer” to building the next European potash mine.
HFR shares were up 23.5 per cent to trade at 84 cents at 11:06 am AEST.