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Harvest Minerals gets KPfertil registered as remineraliser in Brazil
Natural fertiliser producer Harvest Minerals has been informed by the Ministry of Agriculture (MAPA) in Brazil that its application to register KPfértil as a remineraliser has been conditionally approved, pending the submission of additional materials.
The AIM-traded firm said that had now been done, and Harvest was advised that the submitted materials would be reviewed "expeditiously" with final approval from MAPA expected this quarter.
"This is welcome news, although it's important to note that the delay in gaining certification from MAPA has not impacted our ability to sell KPfértil, as highlighted by a recent 36Kt order from a major fertiliser distributor in Brazil," said executive chairman Brian McMaster.
"The process has taken longer than we anticipated, although this is largely because this is an entirely new process put in place by MAPA to facilitate approval, rather than any product issues."
Meanwhile, McMaster said Harvest was busy completing the plant expansion, which would enable its to process 320,000 tonnes of KPfértil per annum, with all equipment now on site and being installed.
"We have also received all the necessary permits to switch to grid power.
"These advancements will facilitate the continued growth of sales and revenues as we look to establish Harvest as a highly profitable business."