Horizonte Minerals Releases Araguaia Update

Nickel development company Horizonte Minerals (LSE/TSX:HZM) has released an update on its operations covering its flagship Araguaia nickel project in Brazil.

Horizonte CEO Jeremy Martin said:

There has been a considerable amount of work involved in the optimization of the plant layout and design where we have been able to successfully reduce the overall plant footprint, close-couple the equipment packages leading to a reduction in the overall material quantities (cut and fill material, concrete and steelwork).

As highlighted in the press release:

• Final results of the Araguaia 43-101 feasibility study are being prepared and expected to be announced to the market in October 2018;
• Optimization around the plant layout, engineering design and process flow sheet now complete and resulting in considerable opportunities;
• Plant design has been modified to accommodate the potential expansion of a second Rotary Kiln Electric Furnace (‘RKEF’) process line in the future after the first line is fully commissioned, providing flexibility to double the output of the operation;
• Final Araguaia capex estimate is currently being prepared for internal review;
• Water permit has been obtained for full-scale operation at Araguaia;
• Brazil’s environment agency (SEMAS) visited Araguaia in late July 2018, a key part of construction licence approval process; and,
• Company cash position of £8.9 million as at 30 June 2018.

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