Harvest Minerals Limited Board Changes (7071S)
October 04 2017 - 7:30AM
UK Regulatory
TIDMHMI
RNS Number : 7071S
Harvest Minerals Limited
04 October 2017
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
4 October 2017
Harvest Minerals Limited
("Harvest" or the "Company")
Board Changes
Harvest Minerals Limited, the AIM listed fertiliser development
company, announces that Matthew Wood has stepped down from his
position as Executive Director effective from 9 October 2017 to
persue other business interests. The Board would like to thank him
for his contribution to the Company and wishes him well.
Brian McMaster, Executive Chairman of the Company, commented,
"We would like to thank Matt for his contribution to the Company
and wish him every success for the future. As a Company, we will
continue to focus on building a leading fertiliser business in the
Minas Gerais agriculture belt in Brazil, and look forward to first
sales upon the approval of the Brazilian Ministry of Agriculture,
Livestock and Supply ('MAPA') which we anticipate at the end of the
year."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please visit www.harvestminerals.net or
contact:
Harvest Minerals Brian McMaster Tel: +61 8 9200
Limited (Chairman) 1847
Strand Hanson Limited James Spinney Tel: +44 (0)20
(Nominated & Financial Ritchie Balmer 7409 3494
Adviser)
Mirabaud Securities Rory Scott Tel: +44 (0)20
LLP 7878 3360
(Joint Broker)
Beaufort Securities Jon Belliss Tel: +44 (0)20
Ltd 7382 8300
(Joint Broker)
St Brides Partners Isabel de Salis Tel: +44 (0)20
Ltd 7236 1177
Olivia Vita
Notes:
Harvest Minerals (HMI.L) is a South American focused fertiliser
Company targeting low cost, near term development projects. The
Company's primary focus is the development of its 100% owned Arapua
Fertiliser Project from which it produces its KPfértil product, a
proven, multi-nutrient, slow release, organic fertiliser and
remineraliser, which is produced from a weathered potassium and
phosphate rich lava and offers many economic and agronomic
benefits. 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 resource translates into a
mine life of over 100 years at a rate of 450k tonnes per annum and
crucially is based on drilling just 6.7% of the known
mineralisation, leaving significant upside potential. With a trial
mining licence in place allowing Harvest to extract 50kt of product
on a rolling basis, whilst the full mining licence application
process is underway, and official registration of KPfértil as a
remineraliser expected by the end of 2017, Harvest is ideally
placed to address the significant demand for locally produced
fertiliser in Brazil; Brazil has abundant agricultural land but
lacks domestic fertiliser, with the country currently importing 90%
of the potash it uses. Furthermore, the Brazilian government has
set a target to be self-sufficient in fertilisers by 2020, creating
significant market opportunity for Harvest and its KPfértil
product.
The Company has four assets at various stages of development and
continues to explore other opportunities that fit its investment
criteria.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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