Jason Tracy and Daniel Linaker of Alvarez & Marsal Australia were appointed voluntary administrators of Highfield Resources Ltd and its wholly owned Australian subsidiary, KCL Resources Ltd, on 7 September 2026.

The administrators have assumed control of the businesses to undertake an urgent assessment and explore options for a sale or recapitalisation. Shares in Highfield remain suspended from trading while the administration is underway, with the first statutory meeting of creditors expected to take place on 16 September 2026.

Immediately following the administration appointment at the subsidiary level, Global Loan Agency Services Australia Specialist Activities Pty Limited as security trustee appointed Peter Gothard and Gayle Dickerson of KPMG as receivers and managers over the assets of KCL, including the shares in the Spanish entity Geoalcali S.L.U. owned by KCL.

Despite the appointments at the parent and subsidiary levels, Geoalcali's operations, including the Muga mine, remain unaffected and under the control of their directors. Highfield was planning to commence full-scale construction of the flagship Muga Project after receiving key permits and finalising initial site preparatory work, as outlined in its AGM presentation in May 2026.

Read the full announcement: Appointment of Voluntary Administrators