Caerus Mineral Resources plc has signed an exclusive option agreement to acquire EV Metals Group plc (EVM)’s 90%-owned metals and minerals subsidiary in Saudi Arabia. RIWAQ RIWAQ Al Mawarid for Mining is EVM’s special purpose vehicle focused on exploration, mining and processing of minerals and metals in Saudi Arabia. The subsidiary is developing a portfolio […]
Tag: nickel
Horizonte draws down first tranche of $346.2m debt for Araguaia
Horizonte Minerals plc said it had drawn down the first tranche of the US$346.2 million senior debt facilities for its 100%-owned Araguaia nickel project in Brazil. CONDITIONS The move follows the company satisfying all conditions precedent and also unlocks the balance of the funding to complete construction and commissioning of the project. Horizonte company has […]
Horizonte signs five-year port deals for Araguaia nickel
Horizonte Minerals plc has signed two five-year port agreements to import required raw materials and export of its final ferro nickel product for its 100%-owned Araguaia nickel project in Brazil. CONTRACTS The company has awarded the contracts to Grupo Atlantica Matapi and Santos Brasil Tecon Vila do Conde, both of which are established operators in […]
FCM assays show ‘massive sulphide’ find at West Pickle Lake
First Class Metals plc (FCM) reported assay results showing a “massive sulphide” discovery representing a “major new nickel district” at West Pickle Lake nickel-copper-cobalt project in Ontario, Canada. JOINT VENTURE The Pickle Lake project area comprises 33 single cell mining claims over which Palladium One Inc has the option to earn in to an 80% interest […]
Corcel reports increase in costs while losses widen
Corcel plc reported widening losses at the end of year in which it expanded its metals assets in Papua New Guinea (PNG). FINANCES Final audited results for the year ended 30 June 2022 show losses of £2.1 million (2021: 1.2m). Administrative costs rose to £1.26m (2021: 1.0m) reflecting increased insurance costs, professional services costs, share […]
Horizonte secures renewable power for Araguaia
Horizonte Minerals plc has secured long-term renewable power at a low cost for its 100%-owned Araguaia nickel project in Pará state, Brazil. SUPPLIERS The company awarded the power purchase agreements to “a subsidiary of a global AAA rated energy company” and Casa dos Ventos Comercializadora de Energia S.A. (CDV). CDV holds the largest portfolio of […]