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Harvest Minerals Ltd on Monday said it has initiated a strategic review that could lead to the sale of one or both of its business divisions, as tough market conditions continue to weigh on fertiliser demand. Shares in Harvest Minerals were down 40% at 0.36 pence in London on Monday afternoon. The South America-focused fertiliser producer said it is evaluating a range of options to maximise shareholder returns amid high input costs, lower commodity prices, and a financial strain on farmers in Brazil. Harvest Minerals said adverse weather conditions have further impacted demand and liquidity in the sector. Harvest operates two divisions: KP Fertil, an organic multi-nutrient fertiliser, and a rare earth elements exploration programme in partnership with PVW Resources Ltd. Harvest said total delivered volume of KP Fertil reached 37,186 tonnes in 2024. It has budgeted 2025 volume guidance at 70,000 tonnes, although orders placed so far amount to just 2,183 tonnes, with 1,042 tonnes already invoiced. To bolster liquidity, the company has secured debt restructuring, including a 12-month grace period and a 36-month repayment plan on R$5.0 million, around £675,000, of working capital debt. It has also recovered about R$590,000 through extrajudicial negotiations with three clients, with further recoveries being pursued through legal proceedings. Harvest’s REE division, which is being developed under a technical cooperation agreement with PVW Resources, has completed a review of existing data. PVW is now preparing an exploration programme for 2025, with further updates expected once plans are finalised. Chair Brian McMaster said: ‘Market conditions remain challenging, and while 2024 sales reflected these difficulties, we continue to focus on maintaining operational stability and supporting our customers. Looking ahead, we recognise the uncertainties in 2025 and are proactively assessing all strategic options to ensure we are well-positioned for future opportunities’. Copyright 2025 Alliance News Ltd. All Rights reserved.
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