Horizonte Minerals plc said it had made significant progress ahead of construction at its Araguaia ferronickel project in Brazil.
The company has conducted competitive tendering for the supply of approximately US$230 million of key processing equipment and project management (EPCM) services.
These include crushers, conveyors, electrical, dryer, kiln, dust collection and refinery;electric furnace and calcine transfer system; overland powerline and main electrical infrastructure EPC; construction contracts, including bulk earthworks, temporary construction infrastructure and services, and civil works.
All key permits are in place in readiness of the start of operations with financing discussions on course and approval from the credit committee for the senior debt facility expected this quarter.
The project execution team is being assembled in the reopened office in Belo Horizonte as appointments are made for engineering, community, health and safety managers.
PROGRESS
“We have made progress with the senior debt facility following completion of due diligence by the lending syndicate, with credit committee approval on track for Q3 2021,” said Horizonte’s chief executive Jeremy Martin.
“Together with the excellent progress being made on our financing initiatives and the recent strength in the nickel price, it is exciting to see an increase of activity on the ground in Brazil as our preparation to start construction in the coming months intensifies.”