Horizonte Minerals’ Araguaia nickel project construction on track

Horizonte Minerals has awarded the earthworks contract for the Araguaia nickel mine in Brazil, marking an important milestone for construction at the project.

The contract was awarded to Copa Construção S.A. and covers ‘process plant and supporting infrastructure’ at Araguaia.

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We are delighted to welcome Copa as a key partner for the construction of our Araguaia Project. With Copa’s strong track record of successfully delivering infrastructure projects across the country, signing this contract enables us to commence construction at the beginning of the dry season this quarter as planned,” said CEO of Horizonte, Jeremy Martin.

The construction of the Araguaia nickel mine is expected to take 24-months and Horizonte will now work towards awarding contracts for the civil works, a powerline and electromechanical construction.

Over a projected 28-year mine life, Araguaia is set to produce 900,000 tonnes of dry ore feed per year to produce 52,000 tonnes of ferronickel, equating to 14,500 tonnes of contained nickel.

Horizonte Minerals shares gained 1.5% to 6.95p following the construction update today.

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