LONDON, UK: Harvest Minerals Limited has commenced construction of a solar power facility that will meet all the power requirements at its Arapua Fertiliser Project in Brazil.
Brian McMaster, Chairman of Harvest, said, “Earlier in the year, we qualified for the London Stock Exchange’s Green Economy Mark, which recognised our commitment to ensuring our operations and products are as sustainable as possible.
We are therefore delighted to strengthen our zero-carbon strategy with a solar energy initiative that will not only significantly reduce our carbon footprint but will also deliver substantial and ongoing cost savings.
Furthermore, given both large agricultural and smaller retail customers are increasingly looking holistically at the processes along the whole supply chain in their quest to source low-impact, high-quality, organic fertilisers, we are positioned to capture these customers and build sales. We look forward to updating the market on our progress in the near future.”
Harvest Minerals continues to ramp up production and sales of its direct application natural remineraliser, KP Fértil, from its 100% owned Arapua Fertiliser Project in Brazil. In line with its commitment to making the operation carbon-free, the Company is constructing a solar power facility with the capacity to supply 100% of its power needs, including mining, processing, and administration facilities.
In total, 276.79 kilowatts peak (kWp) will be installed, including 622 solar modules of 445 Wp each; it is expected that this will be commissioned within five months.
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.
A debt facility of circa R$1.0 million (approximately US$200,000) has been signed with Banco Santander with a five-year term at favourable rates to fund 100% of the cost of construction of the solar power facility. Energy cost savings of circa 8% will more than offset the debt service commitment over the debt term.
Harvest Minerals Ltd share price
3.84 GBX
27 Sep, 4:30 pm GMT+1 ·Disclaimer