Highfield Resources Signs MOU With Port Authority for Exports From Muga

Highfield Resources (ASX:HFR) has signed a memorandum of understanding with the Port Authority of Pasajes regarding port capacity for production from Highfield’s Muga project. The non-binding agreement confirms the availability of significant port capacity.

As quoted in the press release:

The MOU confirms the parties will work together to locate shipping facilities at the Port enabling in excess of 440k tonnes of product handling per year and is planned to be available and operational from early 2017. Importantly, the facilities will allow for the shipment of over 1.5m tonnes of product each year.

Highfield Managing Director, Anthony Hall, said:

Logistics and in particular port capacity are key to our commercialisation strategy, especially to markets outside Europe. The Port of Pasajés is closer to our site and on an operating cost basis should give us a better result relative to the logistics solution that was contemplated in the Pre-Feasibility Study. We continue to negotiate a similar MOU with the Port of Bilbao to maintain optionality and to ultimately allow for greater scale from our potash mines.

Click here to read the Highfield Resources (ASX:HFR) press release