Highfield Resources Ltd (ASX:HFR) (FRA:23H) continues to make progress with the permitting process that will lead to development of the Muga Potash Project in northern Spain.

The company has been advised that mining authorities of Madrid, Aragón and Navarra are satisfied with the Mining Concession documentation submitted for the project.

Accordingly, the company has been advised that the final Mining Concession text has now been sent to the government’s lawyer for a final legal review.

Final permitting step

With engineering and design work ready, Highfield understands that this is the final step before the granting of the Mining Concession which will enable construction of the low-cost, low-capex project to begin.

Location of Highfield’s tenement areas in northern Spain.

Once in production, the Muga project is forecast to be one of the highest margin potash mines in the world.

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 262 square kilometres.

Shares are more than 4.3% higher to A$0.835 while the company’s market cap is approximately A$263.7 million.