Horizonte Minerals has drawn down US$50 million from the second tranche of its senior debt facility of $346.2m to fund construction of its 100%-owned Araguaia nickel project in Brazil.
REMAINING CAPITAL
A total $465 million capital expenditure awarded to date has included payment for the majority of the key long lead items.
The remaining project capital commitment is comprised of $18m for process related equipment, $19m for overall site construction, with the balance for materials and operational readiness before the start of production at Araguaia.