Yankuang Energy (600188.SH) released an announcement that the company is planning a strategic cooperation with Highfield Resources Limited (a company listed on the Australian Securities Exchange with stock code HFR.ASX, referred to as "Highfield Resources"), and intends to become the largest shareholder and obtain control over Highfield Resources through asset injection and cash subscription to newly added shares after the transaction. On July 19, 2024, Yankuang Energy and Highfield Resources signed a non-legally binding letter of intent for cooperation.
According to Zhilin Finance APP, Yankuang Energy (600188.SH) announced that the company is planning a strategic cooperation with Highfield Resources Limited (a company listed on the Australian Securities Exchange with stock code HFR.ASX, referred to as "Highfield Resources"). The company intends to become the largest shareholder of Highfield Resources after the transaction and obtain control through asset injection and cash subscription to newly added shares. On July 19, 2024, Yankuang Energy and Highfield Resources signed a non-legally binding letter of intent for cooperation.
It is reported that the main business of Highfield Resources is the development of potassium fertilizer projects. The core project is an under-construction potash mine project in the north of Spain, with a potassium salt resource of about 0.28 billion tons. The project started earthwork construction in 2022, with a designed capacity of 0.5 million tons per year for phase 1.