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Highfield Resources (HFR) investor relations material

Highfield Resources Investor Presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Investor Presentation summary26 Oct, 2025

Leadership and strategic direction

  • New CEO Carles Aleman brings over 30 years of international mining and chemical industry experience, including senior roles at BASF and ICL Iberia, and joined in 2023 to lead local operations and government engagement.

  • Management strategy reset to focus on financing execution and strategic engagement, with a clear mandate to drive value realization for shareholders and noteholders.

Project overview and competitive advantages

  • Muga is a two-phase potash project in Northern Spain, targeting 1 Mtpa of muriate of potash using conventional underground mining and flotation/crystallization processing.

  • Strategic location in Southern Europe provides access to premium European markets, with proximity to ports and infrastructure, resulting in higher netbacks and lower delivery costs.

  • The mine benefits from shallow mineralization, no shafts or aquifers, and is construction-ready with strong local and federal government support.

Project economics and market positioning

  • Outstanding economics: €1.8 billion NPV, 23% IRR, €340 million annual EBITDA at full production, and a 30-year mine life.

  • Low capex intensity and first quartile margin position, with estimated C1 cash costs of €108/t and phase 1 capex of €449 million.

  • Europe trades at a potash price premium, and the mine is positioned as one of the highest margin potash projects globally.

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Frequently asked questions

Highfield Resources Limited is a mineral exploration and development company focused on potash mining projects in Spain. The company's primary asset is the Muga Potash Project, located in the Ebro Basin, which aims to produce potash for agricultural fertilizer use. Highfield Resources is involved in the entire project lifecycle, including exploration, permitting, and development, with the goal of contributing to the European agricultural supply chain. In addition to potash, the company explores for by-products that can support sustainable mining operations. The company is headquartered in Pamplona, Spain, and its shares are listed on the ASX.

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