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Muga financed, ready to build

Australian-listed potash development group Highfield Resources has agreed a debt package with a syndicate of four European banks for up to €222 million (US$251 million) to all but complete the financing for its Muga project in Spain.

Due diligence should be signed-off in October with definitive legal documentation to follow immediately after, allowing Highfield to have full project financing in place before the first soil is