ASX-listed Highfield Resources has signed a €23.3-million non-binding indicative term sheet with financial services group Macquarie for an equipment operating lease facility for the Muga potash mine in Spain, subject to contract and Macquarie completing its final due diligence and all requisite approvals.
If executed, the facility will provide financing for the Muga project’s various units of underground mining equipment. The facility will be in addition to the €312.5-million senior secured project financing package.
"Signing this non-binding indicative operating lease financing term sheet with Macquarie is another significant milestone for the company as it moves into the construction phase of the Muga mine,” Highfield Resources MD and CEO Ignacio Salazar said.
The Muga project was granted a mining concession in July last year and was awarded the mine gate and declines construction licence in June.