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(Alliance News) - Harvest Minerals Ltd said on Monday authorities in Brazil have approved the company's plans for the Arapua fertiliser project in Minas Gerais state.
The plan was submitted in July 2018, and Harvest said it is, in effect, a feasibility study in which it has sought to prove Arapua is possible both technically and economically.
The acceptance of the plan by the Agencia Nacional de Mineracao is the final step before the ANM considers Harvest's application for a full mining licence.
Elsewhere, the environmental department has accepted Harvest's environmental application, with the final step, a site visit, to occur late in the third quarter. If there are no problems, Harvest expects final approval towards the end of 2019.
Executive Chair Brian McMaster said: "This acceptance of both the company plan and the environmental application propels the company into the final stages of these permitting processes.
"Our application for the full mining license has been steadily progressing through all the required administrative stages; the ANM has responded to us within the required time frame and we expect the final administrative hurdles to be completed and the mining licence to be granted around year-end," he continued.
"Meanwhile, our production facilities continue to operate under our existing license as we continue to develop the KPFertil brand through the work of our dedicated sales and marketing team."
Harvest shares were 1.9% higher on Monday shortly before midday in London at a price of 4.79 pence each.
