Horizonte Minerals Awarded Construction License for Araguaia

Horizonte Minerals (LSE,TSX:HZM) has announced that it has been awarded the construction licence for the development of its Araguaia ferronickel project in Brazil.

The award of the construction licence (LI) was granted by SEMAS, the Pará State Environmental Agency.

As highlighted in the press release:

• The granting of the construction license provides Horizonte with the permits required to construct the Araguaia rotary kiln electric furnace processing plant and associated infrastructure
• The construction license approval represents a major de-risking step for Araguaia, which is now fully permitted to commence construction
• Receipt of the permit follows release of the feasibility study (FS) results in October 2018 and filing of the 43-101 FS report on SEDAR in December 2018.

Horizonte CEO, Jeremy Martin said:

The LI award follows on closely from the completion of the FS, demonstrating that Araguaia is a tier 1 asset with the potential to be a low-cost supplier of nickel in the form of high-grade ferronickel to the stainless-steel industry. Over the initial 28-year mine life, Araguaia is expected to generate cash flows after taxation of US$1.6 billion and sits on the lower half of the global cost curve.

Click here to read the full Horizonte Minerals (LSE.TSX:HZM) press release.