Horizonte Minerals plc is focusing on critical work while talks continue on further financing for its Araguaia nickel project in northeast Brazil. CAPITAL During the “slowdown period” the company has advanced the water storage reservoir and the 230kV powerline, both components of rotary kiln electric furnace operations. Horizonte is also minimising the impacts of the […]
Tag: Araguaia – Brazil
Horizonte reduces Araguaia construction work
Horizonte Minerals plc will reduce construction activities at its Araguaia nickel project while it tries to resolve lack of funds with senior lenders and cornerstone shareholders. DISCUSSIONS The company said it would progress only “critical work streams” while maintaining safety in order to manage resources and funds. In October, Horizonte warned of at least a […]
Horizonte stockpiles 138,000t ore at Araguaia
Horizonte Minerals plc had stockpiled 138,000 tonnes of ore averaging 1.92% nickel and spent US$429 million as of 30 September at the Araguaia project in Brazil. COSTS The company said it continued to progress during Q3 with construction at the site and advance financing discussions with its cornerstone shareholders and lenders. Horizonte expects a detailed […]
Araguaia costs to rise 35% with first production delayed
Horizonte Minerals plc anticipates at least a 35% increase in overall capital expenditure and a delay to first production at its Araguaia nickel project in northeast Brazil. FINANCING The company said it was making “good progress” on the final detailed engineering and construction design for Line 1 but a review of costs for the design […]
Horizonte appoints Fernando Marino as operations director
Horizonte Minerals plc has appointed Fernando Marino as operations director for the Araguaia nickel project in northeast Brazil. Mr Fernando has more than 35 years’ experience in the resources industry and a strong track record of increasing and operating mining operations in Brazil. He worked across a range of mining operations for Vale, including as […]
Two thirds construction completed of Araguaia Line I
Horizonte Minerals plc has completed 65% of the overall Araguaia Line I construction programme and 53% of the physical site ahead of first nickel targeted for early next year. PROGRESS Construction off-site of the 126km, 230kV transmission line is well advanced with more than 90% of the pylons erected and 42km of conductor cable installed, […]