Horizonte Minerals Plc (AIM:HZM)(TSX:HZM) (‘Horizonte’ or ‘the Company’), the nickel development company focused in Brazil, is pleased to report the progress to date of the on-going Feasibility Study (‘FS’) on its 100%-owned Araguaia nickel project (‘Araguaia’ or ‘the Project’). The Company is developing Araguaia as Brazil’s next ferro-nickel mine.
Horizonte CEO Jeremy Martin said:
“We are making good progress towards the completion of the Feasibility Study and with over 60% of the work streams complete to date the Feasibility Study remains on schedule to be completed on budget around the end of the year with targeted publishing in early 2018.
“The next major milestone and de-risking step for the Project will be the award of the Installation Licence, which allows construction to start. We are now in a position to submit all the documentation for the Installation Licence to the environmental agency in Q3 2017 with a view to the award of the licence in Q1 2018.
“There has been a steady increase in the nickel price over the last eight weeks with prices now over US$11,000 per tonne, this aligned with our project milestones over the next 12 months should see increased interest in the Company as we advance the project through to the construction stage.”