Highfield Resources Ltd. signed a nonbinding memorandum of understanding to supply 250,000 tonnes per annum of muriate of potash to Switzerland-based agribusiness Ameropa AG from Highfield's Muga potash project in Spain.
Highfield has the option to increase supply to 300,000 tonnes per annum, and the product will include standard and granular muriate of potash, according to a Sept. 11 release.
Highfield said it is in ongoing off-take discussions with wholesale customers, distributors and global traders for the full production capacity from Muga.
A revised mine plan in October 2018 for the Muga project defined a posttax net present value of €1.16 billion, at an 8% discount, with a 23% internal rate of return and a 27-year mine life.
