Highfield Resources soars on Australia nod for Yankuang Energy's investment

Highfield Resources

14/01/2025 03:18

** Shares of Highfield Resources  HFR.AX  jump as much as
20.4% to A$0.295, their biggest intraday gain since April 2024
    ** Australia's Foreign Investment Review Board clears
Yankuang Energy's  600188.SS  plan to buy up to $376 mln stake
in the potash producer
    ** Highfield also says it plans to buy Southey potash
project in Canada by acquiring Yankuang Energy's unit in the
country in a $286 mln deal
    ** Stock hits its highest level since Oct. 17, 2024
    ** Over 300,00 shares change hands, 2.2x 30-day average vol
    ** Stock last year fell by 28.8%

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))