HIGHFIELD RESOURCES: SIGNED PURCHASE CONTRACT FOR MUGA MINE PROCESS PLANT EQUIPMENT

Highfield Resources (ASX: HFR) (“Highfield” or “the Company”) is pleased to announce the signing of a purchase agreement for major components of the processing plant in order to finalize pre-construction activities at flagship Muga Potash Mine (“Muga” or “the Mine”).

Following the recent AU $ 18.1 million capital raising, the Company is well funded to finalize the purchase contracts for the remaining long-term items. And with the signing of this purchase contract, 85% of the planned equipment required for the plant has now been contracted.

The remaining 15%, which includes tangential separators, dryers, thickeners and flotation columns, should be formalized in the coming weeks. The rest of the equipment, mainly mining equipment, will be procured before the start of operations. Completion of the supply of processing plant equipment is essential to enable improvements in the detailed engineering design of the plant with the design of the specific equipment used. In addition, it allows Highfield to cover the long manufacturing lead times for this type of equipment.

Weir Minerals supplies primary and secondary concentrate screens that will be used for particle size separation in the initial phase of crushing, grinding and desalination processes. Weir’s hydrocyclones will be used to remove fine particles from the slurry (called de-slamming) before flotation.

Highfield Resources CEO, Ignatius Salazar, said: “The signing of this supply contract with Weir Minerals is essential to ensure that we are ready for construction. This is another important milestone for Highfield and continues to highlight the progress and the company’s commitment to building Muga effectively. ‘

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About PLC weir group

Founded in 1871, over the past 150 years Weir has grown into a focused, high-quality mining technology company, providing critical solutions for smarter, more efficient, and sustainable mining to a global customer base. Its differentiated technology is used in concentration extraction and tailings management.