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Share Name Share Symbol Market Type Share ISIN Share Description
Harvest Minerals Limited LSE:HMI London Ordinary Share AU000XINEAB4 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 13.10 12.70 13.50 13.10 12.60 13.10 904,743 13:37:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 1.4 -0.9 -0.5 - 24

Harvest Minerals Limited Completion of Installation of Solar Power Facility

16/12/2021 6:59am

UK Regulatory (RNS & others)


Harvest Minerals (LSE:HMI)
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RNS Number : 7822V

Harvest Minerals Limited

16 December 2021

Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining

16 December 2021

Harvest Minerals Limited ('Harvest' or the 'Company')

Completion of Installation of Solar Power Facility to Supply 100% of Power Needs

Harvest Minerals Limited, the AIM listed remineraliser producer, is pleased to announce that it has concluded the construction of its solar power facility, which will meet 100% of the power requirements at its Arapua Fertiliser Project in Brazil ('Arapua').

Overview

 
      --              Power generation to supply 100% of Arapua's power needs. 
      --              Estimated 7% savings in Operating expenditure (mining, processing) 
                       due to lower energy costs v's FY21 figures. 
      --              Energy prices per KW/h set to increase significantly in future 
                       years; project completion mitigates possible adverse effects 
                       on operating margins. 
      --              Installation of S olar power facility completed in under three 
                       months. 
      --              Significantly advances Company's strategy to make Arapua carbon-free 
                       and ESG agenda. 
 

Brian McMaster, Chairman of Harvest, said, "Our zero-carbon strategy takes a big step forward with the completion of the installation of our solar power facility. We will experience immediate impact on the reduction of our carbon footprint as well as in the bottom line with substantial and ongoing cost savings. In the year we qualified for the London Stock Exchange's Green Economy Mark, this achievement is another big statement to our commitment to ensuring our operations and products are as sustainable as possible ."

Further Information

Harvest has finalized the construction of its solar power facility installed located beside Arapua's producing plant and storage facilities. The plant has capacity to supply 100% of Arapua's power needs, including mining, processing, and administration facilities. In total, 276.79 kilowatts peak (kWp) were installed, including 622 solar modules of 445 Wp each. The Company is now working with Cemig (Companhia Energética de Minas Gerais S.A) - Minas Gerais state power company - to connect the solar plant to the power grid, which is expected to be completed in January/February 2022.

Capacity has been planned according to Harvest's targeted production/sales growth for the next year, however, the modular design of the project will enable capacity to be increased as production is ramped up.

It is estimated that energy operating expenditure (mining and processing) will be reduced by 7% due to a sharp reduction in energy costs, thus increasing Harvest's profitability.

**ENDS**

For further information, please visit www.harvestminerals.net or contact:

 
 Harvest Minerals Limited   Brian McMaster        Tel: +44 (0)20 3940 
                             (Chairman)            6625 
 
 Strand Hanson Limited      James Spinney         Tel: +44 (0)20 7409 
  Nominated & Financial      Ritchie Balmer        3494 
  Adviser                    Abigail Wennington 
 
 Shard Capital Partners     Damon Heath           Tel: +44 (0)20 7186 
  Broker                                           9900 
 
 St Brides Partners Ltd     I sabel de Salis      E : info@stbridespartners.co.uk 
  Financial PR               Oonagh Reidy 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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(END) Dow Jones Newswires

December 16, 2021 01:59 ET (06:59 GMT)

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