Harvest Minerals Limited Permit Update (3858Z)
March 14 2017 - 4:55AM
UK Regulatory
TIDMHMI
RNS Number : 3858Z
Harvest Minerals Limited
14 March 2017
14 March 2017
Harvest Minerals Limited
("Harvest" or the "Company")
ARAPUA FERTILISER PROJECT
POSITIVE UPDATE ON PERMITTING
Harvest Minerals Limited (AIM:HMI) is pleased to provide an
update on the future permitting at its 100% owned Arapuá Fertilizer
Project ("the Project") in Minas Gerais State, Brazil.
Highlights
-- Trial Mining Permit extended, allowing Harvest to continue mining on a rolling 50kt basis;
-- Full Mining Licence application to be submitted in April 2017;
Trial Mining Permit and Mining Concession
As previously announced on 22 December 2016, Harvest was granted
a trial mining permit (Guia de Utilização) which remains in place
until 28 April 2017.
Following consultation with the Departamento Nacional de
Produção Mineral ("DNPM"), and given the positive developments and
results at the Project to date, including the increased Mineral
Resource estimate as announced on 27 February 2017, Harvest has
elected to submit an application for a Full Mining Licence ("FML").
This application will be lodged during April 2017.
Having already applied to extend the Trial Mining Permit,
Harvest can automatically continue operating under the Trial Mining
Permit without interruption until a decision on the FML is
reached.
As part of the FML application process, Harvest will submit a
Final Exploration Report to the DNPM detailing all of the
geological, metallurgical and agronomic work Harvest has completed
at the Project to date. Once this is approved, Harvest has a
further one year to submit a feasibility study and the respective
application to the DNPM.
Approval of the FML is likely to take between 1-2 years
depending on when Harvest decides to submit the feasibility study.
As noted above, Harvest can continue to operate without
interruption during this period. Harvest remains fully funded to
complete the work associated with the FML application.
Commenting on the update, Executive Chairman of Harvest, Brian
McMaster stated:
"By starting the process of applying for a Full Mining Licence,
including submitting an extension application for the Trial Mining
Permit, Harvest is putting in place the foundations for a long term
and sizable fertilizer project. We are progressing with our
product's testwork and certification and remain on track."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Harvest Minerals Brian McMaster, Tel: +44 20 7495
Limited Chairman 4323
Strand Hanson Rory Murphy Tel: +44 20 7409
Limited (Nominated James Spinney 3494
& Financial Ritchie Balmer
Adviser)
Mirabaud Securities Rory Scott Tel: + 44 20
LLP (Broker) 7878 3360
Beaufort Securities Jon Bellis
Ltd Tel: + 44 20
(Joint Broker) 7382 8300
Grant Barker
Whitman-Howard
Ltd Tel: + 44 20
Bobby Morse 7659 1225
Anna Michniewicz
Buchanan
(Financial PR) Tel: +44 20 7466
5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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