Highfield Resources in “transformative” partnership to fund Muga and become globally diversified potash company

Highfield Resources Ltd (ASX:HFR) is on its way to becoming a globally diversified potash company, having entered into a non-binding letter of intent for cooperation with leading Chinese energy company, Yankuang Energy Group Co. Ltd, and a number of strategic investors.

The proposed transaction, described by HFR as being potentially “transformative”, would involve Highfield raising US$220 million of equity capital, securing the remaining funding for Phase 1 of its construction-ready Muga Potash Project in Spain, along with the acquisition of the Southey Potash Project in Saskatchewan, Canada, from Yankuang Energy.

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