Highfield Resources has announced a significant upgrade in the financial metrics for its Muga potash project in Spain, raising its net present value (NPV) by nearly 70%.
A number of enhancements were made to the planned design of the process plant and mine, improving grade, environmental outcome and project financials, with an NPV8 and IRR of €1.97 billion and 25%, respectively (from €1.16 billion and 23%, respectively).
The enhancements have also resulted in an increase in the project's CAPEX, from €541 million to €576 million.