Horizonte Issues Request for Proposals for Definitive Feasibility Study of the Araguaia Nickel Project

• RFP documents were issued to Engineering companies and EPCM groups in early December 2016 for Araguaia Feasibility Study
• The tender process will close in January 2017 and successful groups will be announced and commence work in February 2017

Horizonte CEO Jeremy Martin said, “The preparation for the Feasibility Study for Araguaia is another milestone for the Company, as we advance the Project towards construction. The selection of the Engineering group or EPCM group to undertake the Feasibility Study will be a key decision, we want to ensure that the study will allow a seamless progression into the implementation phase.
“It has been a busy year for Horizonte having delivered the robust economics for Araguaia in the PFS and work at the Project continues to progress according to schedule as we move into the final stages of the year and into the Feasibility stage. As we enter this exciting stage it is encouraging to see the nickel price increase with a number of positive reports in the market place continuing to point to robust fundamentals for the metal for 2017 and beyond. We are confident that the project milestones going forward are well aligned with nickel fundamentals. 2017 will be a very active year for the Company and we look forward to keeping the market updated with our progress.”
Further Details
Araguaia, which is 100% owned by Horizonte, is located on the eastern margin of the State of Pará, north-eastern Brazil, to the north of the town of Conceição do Araguaia (population of 46,206), south of the main Carajás Mining District.
The Project has good regional infrastructure including a network of Federal highways and roads, with access to low tariff hydro-electric power. The Carajás Mining District, situated approximately 200km northwest of Araguaia, is host to a number of major iron and copper mines operated by mining major Vale SA.
The PFS released in October 2016 considers open pit mining for the exploitation of nickel laterite to establish the production of run of mine (‘ROM’) from eight open pits to supply a targeted 0.9 million tonnes per annum (‘Mt/a’) of ore to a processing and smelter facility. This facility will use the proven RKEF process with the product being sold at free on board (‘FOB’) at the selected port of export.
A Base Case of 0.9 Mt/a production throughput was selected because of the Company’s objective to minimise the capital expenditure and overall capital intensity, and to optimise overall cash flow, payback, and the economics of the Project.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information visit www.horizonteminerals.com.
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil, which wholly owns the advanced Araguaia nickel laterite project located to the south of the Carajas mineral district of northern Brazil. The Company is developing Araguaia as the next major nickel mine in Brazil, with targeted production by 2019.
The Project has good infrastructure in place including rail, road, water and power.
Horizonte has a strong shareholder structure including Teck Resources Limited 17.9%, Henderson Global Investors 14.11%, Richard Griffiths 13.8%, JP Morgan 8.98%, Hargreave Hale 6.84% and Glencore 6.4%%.
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Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the potential of the Company’s current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
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