20th Feb 2019 10:58
LONDON (Alliance News) - Harvest Minerals Ltd on Wednesday said its Arapua natural fertiliser project in Brazil is now connected to the main electricity grid.
Shares in the fertiliser producer were up 6.1% at 14.06 pence each on Wednesday.
All permits for connecting Arapua to electricity grid were granted in May 2018 when a 600 kilowatt power substation and two transformers were installed as part of a plant expansion, the company said. The substation was connected to the electricity grid in January and then tested and certified on Monday.
Harvest Minerals said the current installed capacity is 15% higher than the maximum current demand for the project and the electricity capacity can "easily be upgraded to 2,500 kilowatts".
Harvest Minerals Chair Brian McMaster said: "The plant upgrade and expansion we installed last year is working well and by switching from diesel to grid power we will be able to continue to control costs and maintain our position as one of the lowest cost producers in the world."
Related Shares:
Harvest Mi (di)