Horizonte Minerals plc (AIM: HZM | TSX: HZM) has announced an update regarding its 100% owned, tier one, Araguaia ferronickel project located in Carajás Mining District in the Pará State, north Brazil. Procurement and early works continue on-site, which includes geotechnical drilling, site access upgrades and temporary site facilities. The company intends to start the main earthworks at the start of Q2 2022.
Horizonte Minerals have also awarded Hatch Limited a contract to act as the furnace supply vendor for the Araguaia project, where a circular electric arc furnace rated at 60 megawatt, a calcine transfer system to feed the furnace with 835Kt per annum of calcine and additional services to ensure successful installation and commissioning.
In addition to awarding the furnace contract, Horizonte is finalizing contracts for engineering, procurement, and construction management, all the other major process equipment, overland power line, earthworks, and civil works.
Horizonte CEO, Jeremy Martin commented: “Completion of the US$633M project funding package for the construction of Araguaia was the most significant milestone in Horizonte’s journey to date. With an experienced team in place in Brazil, it is the start of a very exciting phase for the company as the two-year build of Araguaia commences.”
Horizonte Minerals objectives
Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100% owned, tier one projects in Parà state, Brazil – the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project.
Araguaia is fully funded and in construction. The project intends to produce 29Kt of nickel per year to supply the stainless-steel market. Vermelho is at feasibility study stage and will produce 25Kt of nickel and 1,250 tonnes of cobalt to reportedly supply the electric vehicle battery market.
Horizonte states it is developing a new nickel district in Brazil that will benefit from established infrastructure, including hydroelectric power available in the Carajás Mining District.
For further information please visit: https://horizonteminerals.com/uk/en/
