REG - Harvest Minerals Ltd - Completion of Installation of Solar Power Facility

Harvest MineralsAnnouncement

16/12/2021 07:01

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RNS Number : 7822V  Harvest Minerals Limited  16 December 2021

Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining

16 December 2021

Harvest Minerals Limited ('Harvest' or the 'Company')

 

Completion of Installation of Solar Power Facility to Supply 100% of Power
Needs

 

Harvest Minerals Limited, the AIM listed remineraliser producer, is pleased to
announce that it has concluded the construction of its solar power facility,
which will meet 100% of the power requirements at its Arapua Fertiliser
Project in Brazil ('Arapua').

 

Overview

 ·         Power generation to supply 100% of Arapua's power needs.
 ·         Estimated 7% savings in Operating expenditure (mining, processing) due to
           lower energy costs v's FY21 figures.
 ·         Energy prices per KW/h set to increase significantly in future years; project
           completion mitigates possible adverse effects on operating margins.
 ·         Installation of Solar power facility completed in under three months.
 ·         Significantly advances Company's strategy to make Arapua carbon-free and ESG
           agenda.

 

Brian McMaster, Chairman of Harvest, said, "Our zero-carbon strategy takes a
big step forward with the completion of the installation of our solar power
facility. We will experience immediate impact on the reduction of our carbon
footprint as well as in the bottom line with substantial and ongoing cost
savings. In the year we qualified for the London Stock Exchange's Green
Economy Mark, this achievement is another big statement to our commitment to
ensuring our operations and products are as sustainable as possible."

 

Further Information

Harvest has finalized the construction of its solar power facility installed
located beside Arapua's producing plant and storage facilities. The plant has
capacity to supply 100% of Arapua's power needs, including mining, processing,
and administration facilities. In total, 276.79 kilowatts peak (kWp) were
installed, including 622 solar modules of 445 Wp each. The Company is now
working with Cemig (Companhia Energética de Minas Gerais S.A) - Minas Gerais
state power company - to connect the solar plant to the power grid, which is
expected to be completed in January/February 2022.

 

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.

 

It is estimated that energy operating expenditure (mining and processing) will
be reduced by 7% due to a sharp reduction in energy costs, thus increasing
Harvest's profitability.

 

**ENDS**

 

For further information, please visit www.harvestminerals.net
(http://www.harvestminerals.net/)  or contact:

 

 Harvest Minerals Limited            Brian McMaster (Chairman)   Tel: +44 (0)20 3940 6625

 Strand Hanson Limited               James Spinney               Tel: +44 (0)20 7409 3494

 Nominated & Financial Adviser       Ritchie Balmer

                                     Abigail Wennington

 Shard Capital Partners              Damon Heath                 Tel: +44 (0)20 7186 9900

 Broker

 St Brides Partners Ltd              Isabel de Salis             E: info@stbridespartners.co.uk

 Financial PR                        Oonagh Reidy

 

 

 

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