With this submission, the company has replied to all questions from relevant national, regional and local mining authorities in Madrid, Aragón and Navarra on the documentation submitted by the company.
In parallel, the company has been advised that the review of the text of the mining concession document is now complete, with any requirements that arise from the review to be added to the text and the final document will be sent to the Spanish Government’s lawyers for a final legal review.
“Moving into construction phase”
Highfield chief executive officer Ignacio Salazar said: “We are pleased to have finalised the fifth and last section of the mining concession documentation review.
“The administrations are well aware of the importance of this project for the region.
“My team is also making every effort to protect the project and preserve cash until we get the mining concession.
“In that sense, and with no red flags raised, we are all very keen to see the end of the permitting process and the company finally move into the construction phase.”
The location of the Muga-Vipasca, Pintanos and Sierra del Perdón Tenement Areas in Northern Spain.
As part of the recent round of reviews and as far as the company can currently assess, there have been no material red flag issues raised which could potentially adversely impact the granting of the mining concession for the Muga Project.
With all the required responses submitted, the company is now waiting for the process being undertaken by the authorities to conclude.
Additionally, the furlough scheme currently in place will be increased to 50% on March 1, 2021, for all staff at Highfield until the mining concession is received.
Once in production, the project is forecast to be one of the highest margin potash mines in the world.
With the engineering and design work ready, the company is progressing the Mining Concession.
Highfield’s potash tenements (Muga-Vipasca, Pintanos, and Sierra del Perdón) are in the Ebro potash producing basin in Northern Spain, covering an area of around 276 square kilometres.