Highfield Resources signs European MoUs for Potash

Company News

by Jessica Ellerm


Highfield Resources (ASX:HFR) has signed its first memorandums of understanding with 3 fertiliser companies active in the Spanish and French markets.
 
The MoUs represent up to 320,000 tonnes per annum of K60 Muriate of Potash from its Muga mine.
 
Ongoing discussions are underway with additional European and North African buyers for the remaining production available.
 
Managing Director Anthony Hall has indicated the focus on Spain and Southern France is deliberate and is due in part to the potash price premium in the region and the ability of the company to deliver on a ‘just-in-time’ basis. 
 
Highfield Resources reported a net loss of $2.7 million at 31 December 2015.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.