Harvest Minerals Limited Expansion of Open Pit & Increased ROM Storage (0948N)

TIDMHMI

RNS Number : 0948N

Harvest Minerals Limited

23 September 2019

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

23 September 2019

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

Expansion of Open Pit & Increased ROM Storage Capacity

Harvest Minerals Limited, the AIM listed fertiliser producer, is pleased to announce that it has expanded the current mining area and added additional run of mine ('ROM') storage capacity at its Arapua Project ('Arapua') in Brazil, where it produces KPFértil, a multi-nutrient direct application natural remineraliser.

Highlights

   --    Current open pit expanded exposing a further 70Kt of weathered ore 
   --    Ore being extracted using Company's own equipment 
   --    Additional ROM storage capacity added adjacent to open pit 

Brian McMaster, Executive Chairman of Harvest stated, "In order to meet current sales and to ensure we have sufficient stock for the start of next season, we have expanded the current mining area. Additionally, given the growing demand for our product in tandem with planned growth, we have also expanded our ROM storage facilities. This gives us more flexibility both in how we handle our ore, but also in how we can further develop our production and product storage facilities going forward to enable us to better service our customers. This follows our recent announcement regarding the newly approved big bag handling and storage facility, again to help us to service a broader range of clients."

Full Details

Harvest has increased the size of the current open pit, by stripping the soil cover from an area of 6,000m(2) and exposing 70kt of weathered kamafugite, which is being mined using the Company's own equipment. Due to the heavily weathered nature of the ore, it requires no blasting and is simply being loaded onto trucks by a loader to be taken to the ROM storage area. As part of this work, a new ROM storage area has been created adjacent to the pit. In total 10kt of topsoil was removed and stored in the organic stockpile, where it will be used for environmental restoration at a later date.

To view this announcement with illustrative images, please use the following link:

http://www.rns-pdf.londonstockexchange.com/rns/0948N_1-2019-9-20.pdf

Figure 1: View of the extended mining area

Figure 2: Organic stockpile used for environmental rehabilitation

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

*ENDS*

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

 
 Harvest Minerals Limited         Brian McMaster    Tel: [phone] 
                                   (Chairman)        6629 
                                   Dr Mark Heyhoe 
                                   (COO) 
 
 Strand Hanson Limited            James Spinney     Tel: [phone] 
  Nominated & Financial Adviser    Ritchie Balmer    3494 
                                   Jack Botros 
 
 Shard Capital Partners           Damon Heath       Tel: [phone] 
  Broker                                             9900 
 
 St Brides Partners Ltd           Isabel de Salis   Tel: [phone] 
  Financial PR                                       1177 
 

Notes

Harvest Minerals Limited (HMI.L) is an AIM-quoted low-cost and high margin Brazilian fertiliser producer, located in the heart of the largest and fastest growing fertilizer market in Brazil.

Our product, KPFértil, is a registered and approved organic multi-nutrient direct application fertiliser. It contains many of the essential nutrients and minerals required by plants and, unlike most fertilisers, it does not require any complex processing or chemically alteration, instead it can be applied directly to crops.

KPFértil is produced at the wholly owned Arapua project, that consists of a fully permitted mine, production and storage facilities able to produce and deliver KPFértil to customers. Known mineralisation at the Project is expected to support 100+ years' production at 450Ktpa.

Our focus now remains on growing our business and we have the dedicated in-country sales and marketing team with the skills, experience and contacts to sell KPFértil into the potential multi-Mtpa market on the doorstep of the Project.

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 [e-mail] or visit www.rns.com.

END

MSCDBLBLKKFEBBE

(END) Dow Jones Newswires

September 23, 2019 02:00 ET (06:00 GMT)