As part of the Company's transport and logistics strategy for the sale of muriate of potash and salt from its Muga Potash Mine ('Muga' or 'the Mine'), Highfield Resources Limited (ASX: HFR) is pleased to announce the signing of a non-binding MOU with the Port Authority of Bilbao.
The MOU complements a similar agreement with the Port of Pasaia, announced on 2 August 2021. These two ports in Northern Spain will both be key components of Muga's supply chain and are central to the Project's competitive logistical advantage.
Under this MOU, the Port confirms the availability of sufficient port capacity for up to 700,000 metric tonnes per annum of muriate of potash and salt. Bilbao will facilitate the implementation of the requisite logistics infrastructure and services at port to efficiently meet the Project's needs. The Port also commits to have all facilities for product handling and shipping operational from Muga's Phase
Highfield Resources CEO, Mr Salazar, said: 'This MOU is another step in getting the Muga Mine into production. The port of Bilbao is a major European Atlantic port and will be a key export terminal for Muga given its capacity and its proximity and excellent connections to the Mine.
About the Port of Bilbao
The Port of Bilbao, located in north western Spain, 220km by road of the Muga Mine, is among the closest ports to the Mine site, and one of Spain's largest ports and a major European Atlantic port and it currently handles around 35.5 million tonnes including 4.7 million tonnes of dry bulk product annually. There are excellent road and rail connections between Muga and the Port of Bilbao
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