Harvest Minerals Limited New Limestone Area Added to Portfolio (4454A)
01 Junio 2021 - 6:22AM
UK Regulatory
TIDMHMI
RNS Number : 4454A
Harvest Minerals Limited
01 June 2021
To view the announcement with the illustrative images and
diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/4454A_1-2021-6-1.pdf
Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector:
Mining
1 June 2021
Harvest Minerals Limited ('Harvest' or the 'Company')
New Limestone Area Added to Portfolio
Harvest Minerals Limited, the AIM listed remineraliser producer,
is pleased to announce that it has acquired at nominal value the
mineral rights over an area ('the Project') highly prospective for
the exploration of agriculture limestone, a critical soil input
used to neutralise soil acidity by raising its pH levels. Located
in the municipality of Iguatama, Minas Gerais, the Project is
approximately 168km from Harvest's Arapuá Fertiliser Project
('Arapuá').
Brian McMaster, Chairman of Harvest, said: "As part of our
strategy to build our profile in the region, we are delighted to
have acquired this exciting project that has a number of synergies
with our existing operations. Given Minas Gerais is the second
largest consumer of agricultural limestone in the country and that
most of our existing clients are also buyers of such product, we
hope to leverage our commercial channels and regional market know
how to rapidly build sales. First, we're preparing a cost-effective
exploration programme ahead of developing a preliminary mineral
resource and, if favourable, continue with economic and market
studies, following the same fast-track route to production as
Arapuá. Notably, the simplicity of a potential operation with free
digging, crushing, and packing and the organic nature of
agricultural limestone sits perfectly with our ESG commitment. This
is a great opportunity with the potential to add accretive value to
our shareholders beyond our already well-established platform and I
look forward to updating the market further in due course."
Further Information:
Harvest has acquired a new prospective limestone project in the
latest auctioning process promoted by the Brazilian National Mining
Agency ('ANM'). The Project is in the municipality of Iguatama, in
the west of the state of Minas Gerais, within an agricultural
region with access via paved roads and with available power, water,
commerce and workforce. The main crops within the region are beans,
soybeans, sorghum, and corn. Limestone mining, crushing and
commercialisation already takes place in the region through several
long-standing companies, which sell their products locally and to
other regions of Brazil.
Harvest will undertake a preliminary assessment of the
geological potential of the Project to establish the best approach
for a cost-effective exploration programme, following the same
strategy used to define and advance the now producing Arapua
deposit. It is anticipated that the Project will benefit from
Harvest's established facilities, 168km away by paved road, and its
regional presence and commercial activities given most of its
clients also use limestone to condition their soil by raising pH
levels and promote healthy plant growth, a process known as
liming.
The state of Minas Gerais is the second largest consumer of
agricultural limestone using circa five million tonnes per year
according to the Ministry of Agriculture, Livestock, and Food
Supply (MAPA). It is estimated that for each tonne of fertiliser,
three tonnes of limestone are needed. The consumption of fertiliser
(NPK) within a radius of 200km from the Arapuá project is estimated
at about 350,000 tonnes per year.
Figure 1: Location of new Limestone area relative to the Arapuá
Mine
Limestone and Cerrado
Arapuá and the new prospective limestone project are both
located within the Cerrado Region of Brazil, the largest fertiliser
consumer region in the country (see Figure 2).
Brazil has more arable farmland than any other country. The Food
and Agriculture Organization of the United Nations ("FAO") lists
Brazil's total potential arable land at over 400 million hectares,
currently only 50 million hectares is in use. Since 1996, the
amount of cultivated land in Brazil has increased by a third, with
the majority of this increase occurring in the Cerrado. The
availability of farmland is only a secondary reason for the
extraordinary growth in Brazilian agriculture. The main reason for
this increase is the R&D work executed by Empresa Brasileira de
Pesquisa Agropecuária ("EMBRAPA"), a state-owned research
corporation affiliated with the Brazilian Ministry of
Agriculture.
When EMBRAPA was first established, the Cerrado was thought to
be unfit for farming, due to the soil being deemed too acidic and
nutrient poor. EMBRAPA devised a process to enrich the soil by
pouring industrial quantities of lime (pulverized limestone or
chalk) onto it to reduce acidity levels. In the late 1990s, 14
million to 16 million tonnes of lime was being distributed onto
Brazilian fields each year. This number rose to 25 million tonnes
in 2003 and 2004, turning a large amount of unproductive land into
arable land. Today, the Cerrado accounts for 70% of Brazil's
agricultural output, but soil nutrient remains poor and for certain
crops, such as soybean, requires up to fifteen times more
fertiliser per hectare than other agricultural regions.
Figure 2: Cerrado Region of Brazil
**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 Charlie Hollinshead
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