Australian prospective potash producer Highfield Resources has secured an additional A$10mn ($6.45mn) of capital for its 1.3mn t/yr Muga potash project in northern Spain.
The extra investment will come from existing shareholders and be used to address matters related to a permit for the Goyo mining concession, which is part of Muga, and allow the firm to continue wider work at the mine.
Highfield received an environmental permit for Muga in 2019 and began construction at the mine in 2022.
The additional capital comes soon after major China-based potash producer Qinghai Salt Lake pulled out of its planned acquisition of Highfield in August.
