- The Government of Navarra has released an independent study endorsing the impact of Highfield Resources’ (HFR) Muga Mine
- The study concluded that the mine could boost the economies of nearby rural communities, by generating employment and indirect business
- Highfield’s Muga Project could also help to reverse depopulation and unemployment currently affecting those surrounding communities
- The company will commence construction at Muga once it is finally granted a mining concession for the project
- Highfield Resources is up 6.35 per cent and trading at 67 cents per share
The Government of Navarra has released an independent study endorsing the impact of Highfield Resources’ (HFR) Muga Mine.
Navarra, otherwise known as Navarre, is an autonomous community and province in northern Spain, located on the border between Spain and France. Highfield Resources has a number of potash projects in northern Spain, including the Muga, Vipasca, Izaga, Pintanos and Sierra del Perdon projects.
A social department of Navarra’s Government, Observatorio de la Realidad Social, published a social baseline study on the company’s Muga Mine yesterday. The study assessed the mine's potential impact on the social and economic state of local communities.
The independent study concluded that the company’s Muga Project could have a significantly positive socioeconomic impact on the local region.
In particular, the study determined that the Muga Mine could boost the economies of rural communities located near the site by generating employment and indirect business opportunities. The study also predicted that the project could help to reverse severe depopulation and unemployment currently affecting those surrounding communities.
Highfield Resources’ CEO, Ignacio Salazar, expressed the company’s delight about the report and its conclusions about the Muga Project’s positive social impact.
“We welcome the rigor and energy that went into producing this study and the proactiveness of the Government of Navarra in undertaking this task early in the process,” he said.
“At the same time, we appreciate the endorsement of the Government of Navarra to the contributions of Muga and look forward to working together with the Government, local communities, and all interested parties to get the Muga Mine into production for the benefit of all stakeholders,” he added.
The company is currently waiting to be granted a mining concession for the Muga Project, which will allow it to commence construction and progress towards production.
Highfield Resources is up 6.35 per cent, trading at 67 cents per share at 11:55 am AEDT.