Highfield Resources Advances Muga Project with Strategic US$300 Million Investment and Leadership Shift.

Highfield Resources Limited (ASX: HFR) is progressing its flagship Muga Potash Project in Spain through a strategic shift and key financial backing. The company signed a non-binding LOI with Qinghai Salt Lake Industry Co., a subsidiary of China Minmetals, for a proposed US$300 million equity subscription, aiming to fund Muga and other initiatives. This follows a transformative deal with Yankuang Energy and strategic investors from September 2024. Highfield also secured a €1.15 million standby loan from EMR Capital and restructured its senior loan facility, with Societe Generale, BNP Paribas, and Natixis exiting the lending group.

Leadership changes were implemented, with Carles Aleman appointed as CEO and Olivier Vadillo as Head of Corporate Strategy. The company continues to manage costs cautiously, maintaining AU$6.4 million in cash at June-end. Highfield remains focused on finalising financing and accelerating construction readiness, solidifying its position as a future globally diversified potash producer.

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