Business
Completed Expansion & Credit Financing for Clients
Completed Expansion & Credit Financing for Clients.
About this update from Harvest Minerals Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0742E\n Harvest Minerals Limited\n 03 November 2020\n \n \n \n \n To view the announcement with the illustrative maps and diagrams please use the following link:\n \n \n http://www.rns-pdf.londonstockexchange.com/rns/0742E_1-2020-11-3.pdf\n \n \n \n Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining\n \n \n 3 November 2020\n \n \n Harvest Minerals Limited ('Harvest' or the 'Company')\n \n \n \n \n \n Completed Product Storage Capacity Expansion at Arapua Fertiliser Project\n \n \n & Agreed Credit Financing Facility for KPFértil Clients\n \n \n \n \n \n Harvest Minerals Limited, the AIM listed remineraliser producer, is pleased to announce that it has concluded the expansion of the Mining and Storage Areas at its 100% owned Arapua Fertiliser Project in Brazil ('Arapua') (see RNS dated 22 September 2020). Harvest is also pleased to announce that it has signed an agreement with Banco do Brasil, Brazil's largest rural credit provider, whereby the bank will provide credit lines for Harvest's clients to fund their KPFértil orders.\n \n \n \n \n \n Highlights:\n \n \n · \n Expansion work concluded and now operating on a 24-hour, three-shift production scale to meet peak demand\n \n \n o \n Product Storage capacity expanded by 300% or 30,000 tonnes of product over a 6,000m2 total storage covered area\n \n \n o \n Mining Area increased four-fold to 78.8km2 to provide greater production flexibility according to demand\n \n \n · \n Agreement signed with Banco do Brasil, Brazil's largest rural credit provider, allowing Harvest's clients to access to the bank's line of credit to fund orders of KPFértil product\n \n \n \n \n \n \n Brian McMaster, Chairman of Harvest, said:\n \n \n \"We are pleased to have completed, on time and under budget, the significant expansion of both the Product Storage Facility and Mining Area at Arapua. Both are key to providing us the necessary capacity and flexibility to meet the growing demand for KPFértil and I would like to thank our engineering and operational team for such an achievement. On the marketing side, Harvest has secured an important agreement with Banco do Brasil, which now has its door open to our clients for their working capital needs, allowing them to access the bank's rural line of credit to place the...