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Harvest inks 45,000 tonne supply agreement for fertilizer product

Harvest Minerals Ltd. will supply up to 45,000 tonnes of KPfértil, the company's direct application natural fertilizer and remineralizer product, throughout 2017 to a major coffee producer located close to its Arapua fertilizer project in Brazil.

Under the letter of intent signed with Paulo Veloso, the product will be supplied at an expected price of 200 Brazilian reais per tonne, according to the Dec. 22 release.

Separately, Harvest on the same day said it started trial mining at the Maximus prospect at the Arapua project after securing the necessary permit.

Executive Chairman Brian McMaster said the pending results from drilling at Maximus will be received before year-end, which will allow the company to increase the size of the resource.

As of Dec. 21, US$1 was equivalent to 3.34 Brazilian reais.