EXPLORATION & DEVELOPMENT

Horizonte gets permit boost

Nickel developer Horizonte Minerals (AIM:HZM) says it can start building the Araguaia project in Brazil after getting the construction permit from Brazilian authorities.

Staff reporter
Horizonte will now focus on financing the project

Horizonte will now focus on financing the project

Investors were impressed, pushing Horizonte's share price up 12% in London to 2.4p (US3.1c). 

As outlined in its feasibility study, Araguaia will be an openpit mine with a rotary kiln electric furnace process plant producing 14,500 tonnes per annum over 28 years at a capital cost of US$443 million.

The build time is estimated at 31 months.

Horizonte CEO Jeremy Martin said the permit meant everything was on track.

"Subject to funding, the company is now in a position to commence construction with the necessary environmental permits approved, including water abstraction permits issued in 2018 together with the newly issued [construction permit]," he said.

The permit arrived on time, with Horizonte saying last year it would come in the March quarter.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.