Highfield alters potash offtake agreements

Spanish potash developer Highfield Resources has withdrawn from its nonbinding memorandums of understanding (MoUs) for potash offtake it signed with European fertiliser companies in May. The ASX-listed company on Tuesday said that the first MOUs, signed with large European fertiliser companies for up to 320 000 t/y of K60 Muriate of potash (MoP) from its Muga potash mine, near Pamplona, had been replaced with nonbinding MoUs with fertiliser traders Keytrade, Ameropa and Trammo, which covered up to 600 000 t/y of K60 MoP, covering more than 100% of expected phase-one production from its flagship mine.