Harvest Minerals Limited Renewable Energy Initiative (1174N)
28 Septiembre 2021 - 12:59AM
UK Regulatory
TIDMHMI
RNS Number : 1174N
Harvest Minerals Limited
28 September 2021
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
28 September 2021
Harvest Minerals Limited ('Harvest' or the 'Company')
Renewable Energy Initiative to Supply 100% of Power Needs
Harvest Minerals Limited, the AIM listed remineraliser producer,
is pleased to announce that it has commenced construction of a
solar power facility that will meet all the power requirements at
its Arapua Fertiliser Project in Brazil ('Arapua').
Overview
-- Construction of a solar power facility to supply 100% of
Arapua's power needs expected to be commissioned within five
months
-- Modular design to enable capacity to be increased as production is ramped up
-- Operating expenditure (mining and processing) to be reduced
by 8% because of reduction in energy costs
-- In line with the Company's strategy to make Arapua carbon-free
Brian McMaster, Chairman of Harvest, said, " Earlier in the
year, we qualified for the London Stock Exchange's Green Economy
Mark, which recognised our commitment to ensuring our operations
and products are as sustainable as possible. We are therefore
delighted to strengthen our zero-carbon strategy with a solar
energy initiative that will not only significantly reduce our
carbon footprint but will also deliver substantial and ongoing cost
savings. Furthermore, given b oth large agricultural and smaller
retail customers are increasingly looking holistically at the
processes along the whole supply chain in their quest to source
low-impact, high-quality, organic fertilisers, we are positioned to
capture these customers and build sales. We look forward to
updating the market on our progress in the near future."
Further Information
Harvest continues to ramp up production and sales of its direct
application natural remineraliser, KP Fértil(R), from its 100%
owned Arapua Fertiliser Project in Brazil. In line with its
commitment to making the operation carbon-free, the Company is
constructing a solar power facility with the capacity to supply
100% of its power needs, including mining, processing, and
administration facilities. In total, 276.79 kilowatts peak (kWp)
will be installed, including 622 solar modules of 445 Wp each; it
is expected that this will be commissioned within five months.
Capacity has been planned according to Harvest's targeted
production/sales growth for the next year, however, the modular
design of the project will enable capacity to be increased as
production is ramped up.
A debt facility of circa R$1.0 million (approximately
US$200,000) has been signed with Banco Santander with a five-year
term at favourable rates to fund 100% of the cost of construction
of the solar power facility. Energy cost savings of circa 8% will
more than offset the debt service commitment over the debt
term.
**ENDS**
For further information, please visit www.harvestminerals.net or
contact:
Harvest Minerals Limited Brian McMaster Tel: +44 (0)20 3940
(Chairman) 6625
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
Nominated & Financial Ritchie Balmer 3494
Adviser Georgia Langoulant
Shard Capital Partners Damon Heath Tel: +44 (0)20 7186
Broker 9900
St Brides Partners Ltd I sabel de Salis E : info@stbridespartners.co.uk
Financial PR Oonagh Reidy
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END
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September 28, 2021 01:59 ET (05:59 GMT)
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