Harvest Minerals Progresses Brazil Mining License, Gets Report Okay

29th Mar 2018 14:10

LONDON (Alliance News) - Harvest Minerals Ltd said on Thursday that the government Department of Mines has approved the final exploration report for its Arapua fertiliser project in Brazil after an assessment and a site visit by the inspector for Minas Gerais state.

The AIM-listed fertiliser product developer is currently in the application process for a full mining license and intends to submit its environmental report and then a feasibility study as the final steps.

Currently, the group operates under a four-year trial mining permit, allowing it to extract potash used in a fertilizer that is applied to coffee crops.

Harvest Executive Chairman Brian McMaster said: "The approval of our FER is a great endorsement of all the work we have undertaken over the past two years. We are now focused on submitting an environmental report and feasibility study; work on both reports has already started. In the meantime, the company continues to produce and deliver product under its trial mining permit."

The stock was trading 1.7% lower at 19.18 pence per share on Thursday.

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