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Horizonte Minerals Announces Start of Construction for Araguaia Project in Pará and Provides More Information on Nickel Mining Plant Completion, Set to be Delivered by the End of 2023
Horizonte Minerals held an event in Conceição do Araguaia, Pará, on Wednesday, (05/18), to kick off the construction of the Araguaia Project. The initiative aims to build a nickel exploration plant in the region and will be responsible for over 14,000 tons per year during the initial production phase, which is set to begin in 2023, strengthening the mining sector.
Event Held by Horizonte Minerals in Conceição do Araguaia Marks Start of Construction for Araguaia Project for Nickel Exploration in Pará
The event featured participation from CEO Jeremy Martin, Project Director Michael Drake, Araguaia Project Director Leonardo Vianna, and Finance Director Tiago Miranda, along with various authorities and suppliers from the state of Pará. With the meeting with representatives from the state mining sector, Horizonte Minerals commenced construction of the new nickel exploration plant in the region, the Araguaia Project.
This is the largest nickel mining project ever conceived in the entire country and has resources of US$ 633 million already raised for the construction of the plant. Additionally, the nickel production plant is a 100% Horizonte Minerals project focused on large-scale, high-grade, low-cost, low-carbon emission operations, and it is designed to double its production capacity over the coming years for mineral exploration in the state.
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The company also detailed that the Araguaia Project has an initial operational forecast of at least 28 years, with the possibility of future extensions. Furthermore, the project’s financing is already fully secured, and the construction works are currently at the earth-moving phase. Finally, Horizonte Minerals also emphasized the importance of the nickel exploration plant for the state of Pará, as it will generate approximately 3,000 jobs, while operations will create about 500 direct jobs, ensuring new income opportunities for local residents.
Araguaia Project Will Use Open-Pit Nickel Exploration Technology, Where the Miner Plans a Total of 14,500 Tons Per Year to be Produced Only in the Initial Phase
One of the main differentiators of the Araguaia Project from other nickel ventures in Brazil is the open-pit mining technology that will be utilized. Thus, Horizonte Minerals will be transporting the nickel ore to a processing plant, where the ore will be transformed into ferronickel alloy. Additionally, the exploration will also include a stage where the topsoil will be stored separately for the rehabilitation of mined areas.
Moreover, there will also be an investment in nickel processing with low risk to employee safety, to ensure even greater efficiency in production. Horizonte Minerals also stated that the initial projection is to produce 14,500 tons of nickel per year only in the first phase, with the potential to double that amount. This is the company’s main strategy for supplying the global nickel market, which is experiencing strong growth with the adoption of batteries in vehicles.
Finally, Horizonte Minerals highlighted that during the next decade it could produce more than 50,000 tons of nickel per year and will continue its expansion plan in the sector after the completion of the Araguaia Project construction.
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