Highfield Resources to receive Muga project funds and transform into global potash company

Highfield Resources announced it has entered into binding agreements with several parties which would provide the remaining funding needed for the Muga potash project in Spain and transform the firm into a globally diversified potash company.

The Spanish fertilizer firm said it has made a pact with Yankuang Energy Group and several strategic investors including Beijing Energy and Singapore Taizhong Global Development, with the transaction raising $220 million in equity capital and providing for the acquisition of the Southey potash project in Saskatchewan, Canada.

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