Horizonte Minerals, Global Leader in Nickel Investment, Is Finalizing Preparations to Begin Construction of the Araguaia Ferronickel Project in Pará

Horizonte Minerals, Company Headquartered in London, Has Completed the Financing Phase and Is Now Preparing for the Construction of the Araguaia Ferronickel Project in Pará, Where More Than 50 Thousand Tons of the Product Will Be Produced Per Year

Horizonte Minerals Plc, a company that invests in nickel, announced on the morning of this Monday (26) an operational update for the construction of the Araguaia ferronickel project in Pará. In its statement, the company reported significant progress in the main preparatory activities for the project’s construction, including the bidding process for the supply of EPCM.

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CEO of the Company Comments on the Progress of the Araguaia Ferronickel Project

According to Jeremy Martin, CEO of Horizonte Minerals, in the six months since the value engineering completion, significant advancements have been made in the construction plans for the ferronickel project in Pará. According to the executive, tenders have been completed for approximately US$ 230 million in equipment and essential services to be provided under contract with suppliers and industry leaders.

This has contributed to the progress of the company’s project execution plan in Pará and also to a broader reflection on the current context in Brazil, allowing the company to successfully deliver a ferronickel project in Brazil.

The CEO also states that its newly appointed Head of Projects, Mike Drake, has arrived in Brazil and already reopened the office in Belo Horizonte. Martin states that the Head of Projects is already forming his team for the construction of the project in Pará. The recent increase in nickel prices and the progress of their initiatives have the executive excited about expanding their ferronickel activities in Brazil.

Horizonte Minerals Completes Project Financing in Pará

Last month, the company completed financing for the nickel project in Pará. The financing was evaluated at US$ 325 million, and according to Martin, the team worked hard in recent months, especially on the due diligence process required by the banks.

The banks that participated in the operation have already begun the loan approval process, and the nickel company states that it expects to receive approval by the end of the third quarter.

Araguaia is a ferronickel project that will be constructed 45 km northwest of the town of Conceição do Araguaia. The project will have a lifespan of 28 years, and in its first phase alone, will have an investment of US$ 443 million. Horizonte Minerals stated that the mine may receive a second phase of expansion after this period. The estimate is that the mine will produce an average of 14,500 tons of contained nickel in approximately 52,000 tons of ferronickel per year.

Get to Know Horizonte Minerals

Horizonte Minerals is a nickel development company headquartered in London. The mining company is led by a management team with strong experience in the sector.

The company is committed to good corporate governance, robust performance, and high standards. Horizonte operates with safety, care, respect, responsibility, and trust, integrity, teamwork, and cooperation.

Its goal is to become a significant global nickel producer, both in nickel and cobalt sulfide forms and in ferronickel. Its strategy is to continue advancing the Araguaia project, which is 100% owned by the company.