Highfield Resources prepares for potash mining
The Australian company Highfield Resources announced that they have received a potash mining concession within the Muga project, signed by the authorities of the Autonomous Communities of Madrid, Aragon, and Navarra (Spain).
Potash reserves of the Muga project amount to 263.7 million tons with an average content of potassium oxide of 13.5%. Investments in the project are estimated at €413 million (approximately $491 million) with a production capacity of 1.08 million tons of potassium chloride per year.
The Muga project provides for the exploitation of the potassium salts deposits which are mainly composed of sylvinite. Their layers come close to the earth’s surface. The development of the deposits will be carried out by two enterprises using a chamber method with subsequent processing into potassium chloride.