https://newsletter.mw.creamermedia.com
Construction|Financial|PROJECT|Resources
Construction|Financial|PROJECT|Resources
construction|financial|project|resources

Two lenders join Highfield financiers

17th April 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Potash developer Highfield Resources has welcomed two additional lenders to its senior secured project financing facilities of up to €320.6-million to fund the development of its Muga potash project in Spain.

The company on Monday said that HSBC Continental Europe and Caja Rural de Navarre have signed definitive documentation, joining the company’s four existing international financial institutions in the financing package.

“We are pleased to see additional banks joining our lending group. These are banks with an important presence in the natural resources sector and in the Spanish banking market, including in the Navarra and Aragon regions. We are delighted to partner with them as we move towards full project construction,” said Highfield CEO Ignacio Salazar.

An updated feasibility study for Muga estimated a capital cost of €436-million for the Phase 1 operation and €226-million for Phase 2. This was up from the previous estimate of  €398-million for the Phase 1 and €209-million for Phase 2.

C1 costs for the project have also increased from the €76/t estimated in 2021 to €91/t.

The mine plan for Muga has been maintained with the project expected to have a 30-year mine life and Phase 1 of the operation producing 500 000 t/y of potash and Phase 2 increasing production to one-million tonnes a year.

Edited by Creamer Media Reporter

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025
BOLSTERING PRESENCE
The project is set to bolster Namibia’s position as one of the world’s leading uranium producers
Uranium mine moving closer to production
21st February 2025 By: Simone Liedtke

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.059 0.135s - 144pq - 2rq
Subscribe Now