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Highfield Signs Binding Offtake Agreement with Maxisalt for 75ktpa High-Grade Vacuum Salt

Highfield Resources Limited asx.HFR 2 mins read

HIGHLIGHTS

  • Highfield Resources Limited (“Highfield” or the “Company”) has signed a binding take-or-pay offtake with Padira Premium S.L.U./Maxisalt (“Maxisalt”) for up to 75kt per annum, of high-grade vacuum salt per annum

  • Representing 20-30% of the expected annual vacuum salt production in phase 1 of the Project

  • The contract is for the first 5 years of production of high-grade salt at the Muga Mine (“Muga” or the “Project”)

 

Highfield is pleased to announce that it has signed a binding take-or-pay offtake agreement with Maxisalt for a minimum of 50,000t per annum with the option to sell up to 75,000t per annum of vacuum salt. This represents around 20-30% of Muga’s full phase 1 vacuum salt production. The key terms of the contract are:

  • The offtake will be for 5 years from the start of production;
  • Delivery of the product to be at the Port of Bilbao or at the Port of Pasajes;
  • The price, that will need to be agreed by both parties will be based on the Spanish vacuum salt market standard.

Maxisalt (https://erocksalt.com/) is a salt and chemical worldwide provider and trader, based in Barcelona in Spain. Maxisalt specialises in uses of salt in leather, tannery, pharmaceutical, chemical, paint and detergent industries, among others and focuses on de-icing, water softening, swimming pools and industrial salt products.

Commenting on the binding offtake agreement with Maxisalt, Highfield CEO and MD, Ignacio Salazar, said:

“Muga is located centrally to an area with strong local potash and salt demand, representing a compelling competitive advantage.  We are very pleased to sign this first salt offtake agreement for Muga with Maxisalt, a global trader with a strong market presence and track record.”

 

For media and investor queries, contact:

Elvis Jurcevic
Investor Relations – Australia
+61 408 268 271
ej@highfieldresources.com.au

or

Olivier Vadillo
Investor Relations – Global
+34 609 811 257
olivier.vadillo@highfieldresources.com.au

 

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