#HZM Horizonte's view on the recent nickel price hike here.
Horizonte Minerals (HZM LN) 1.95p, Mkt Cap £28.2m –Energy supply agreement for Araguaia • Horizonte Minerals reports that it has been awarded the Energy Decree which guarantees national grid power for the 80Mwh required to produce 14,500 tonnes per year of nickel in ferro-nickel Phase 1 capacity of its wholly owned Araguaia project in Brazil. • The company confirms that engineering and permitting work for the 230kV power transmission line to connect Araguaia to the grid is underway. • Commenting on the award of the Energy Decree, Chief Executive, Jeremy Martin, confirmed that “This is another key permit as we move towards the implementation phase. The availability of energy for mining projects is a risk in many countries, and this Decree guarantees the Company has access to the grid for the full-scale Stage 1 commercial operation with nameplate capacity of 14,500 tonnes of nickel per year.” • Mr. Martin also confirmed that “we continue to advance the project financing (PF) on Araguaia … … Discussions are also underway with a number of groups on product marketing and offtake.”
Horizonte Minerals (HZM.L) 1.98p £28.45m Horizonte Minerals, the nickel development company focused in Brazil, announced that it has been awarded the Energy Decree for its 100% owned Araguaia Ferronickel Project in Brazil. The Energy Decree (Portaria de Energia) was awarded to the Company by the Brazilian Ministry of Mines and Energy. The Energy Decree guarantees Horizonte access to the national grid with the required electrical energy demand for the commercial ferronickel operation; Engineering studies advancing for the transmission line with the National Agency of Electric Energy (Agência Nacional de Energia Elétrica - ANEEL); In parallel with this process Horizonte submitted the combined Preliminary Licence and Construction Licence application for the powerline to the Brazilian Pará State Environmental Agency ('SEMAS') in mid-June; and The receipt of the Energy Decree follows a number of key permitting milestones for the Araguaia project, including the award of the water permit for full-scale operation in April 2018 and the Construction Licence early 2019.
#HZM Horizonte Minerals is pleased to announce the award of transmission line Permit.
RNS Number: 7155 E Horizonte Minerals PLC 08 July 2019 NEWS RELEASE. HORIZONTE AWARDED POWER UTILISATION PERMIT. Horizonte Minerals Plc,, the nickel development company focused in Brazil, is pleased to announce that it has been awarded the Energy Decree for its 100% owned Araguaia Ferronickel Project in Brazil.
Araguaia: The Project Explained #HZM
Horizonte Minerals (HZM LN) 1.85p, Mkt Cap £26.8m –Test results from Vermelho • Horizonte Minerals has reported the completion of test work on samples of limonitic material from its Vermelho nickel cobalt project in Brazil. • The results “confirm the suitability of the Pressure Acid Leach ('PAL') Process and subsequent purification stages for processing Vermelho limonite ore to produce high purity cobalt and nickel sulphate suitable to supply the EV battery markets”. • The company plans to integrate the test results “into the Pre-feasibility Study underway on the Vermelho Project”. • Testing of the limonite material from Vermelho follows earlier work which “showed that Vermelho saprolite ore is suitable for conventional processing at the Rotary Kiln Electric Furnace ("RKEF") to be built at the Company's Araguaia FeNi project”. • The bench-scale test-work, which was undertaken at the laboratories of SGS Lakefield in Canada, used some 157kg of limonite material with an average grade of 1.72% nickel, 0.076% cobalt and 27.7% iron and included high-pressure acid leaching (HPAL) testing in autoclaves at a temperature of 250°C and a pressure of 585 psi (approximately 40 bar) to recover nickel and cobalt to solution. • Further tests were conducted to precipitate a mixed hydroxide precipitate (MHP) and separate and purify the cobalt and nickel hydroxides by ion-exchange methods and crystallise a 99.91% pure cobalt sulphate product “for purification to final battery grade product”. • Commenting on what he described as “a major milestone in the development of the project”, CEO, Jeremy Martin, said that “The successful completion of this sulphate test work confirms that the selected process flow sheet is suitable to treat the Vermelho ore and when combined with the earlier successful RKEF test work demonstrates that alternate process routes exist for the project. The data from the test programmes will be incorporated into the Vermelho Pre-feasibility Study, for release in early H2, with the objective of demonstrating a robust set of economics for the project.” • Mr. Martin also confirmed that “we continue to advance the project financing (PF) on the Araguaia Ferronickel Project, with positive interest shown from seven international banks regarding a PF syndicate. Discussions are also underway with a number of groups on product marketing and offtake.” • The company points to a 4-5% pa growth in demand for nickel, driven by stainless steel, as well as a “cobalt revenue stream from outside of the Democratic Republic of Congo (DRC). Conclusion: The company’s test-work has demonstrated that nickel and cobalt hydroxide can be extracted from the limonites at Vermelho. Testing at this stage has been on a relatively small sample and no doubt as the project progresses further work will be undertaken to confirm that the initial sample is representative of any variations within the deposit and to refine the process flowsheet options.
Horizonte Minerals Plc (HZM.L) Announced the successful completion of its test work on samples of limonite ore from the company's 100% owned Vermelho nickel-cobalt project. Further, the results confirm the suitability of the Pressure Acid Leach Process and subsequent purification stages for processing Vermelho limonite ore to produce high purity cobalt and nickel sulphate suitable to supply the EV battery markets and the positive results from the test work will be integrated into the Pre-feasibility Study underway on the Vermelho Project.
RNS Number: 0567 B Horizonte Minerals PLC 04 June 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 0560 B Horizonte Minerals PLC 04 June 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 0033 B Horizonte Minerals PLC 04 June 2019 NEWS RELEASE. HIGH PURITY COBALT AND NICKEL SULPHATE. Horizonte Minerals Plc, the nickel cobalt development Company focused in Brazil, is pleased to announce the successful completion of the previously announced test work on samples of limonite ore from the Company's 100% owned Vermelho nickel-cobalt...
Horizonte Minerals CEO, Jeremy Martin, will be presenting at 12.15pm on Thursday 6th June.
16 May 2019- Horizonte Minerals Plc,, the nickel development company focused in Brazil, announces it has today published its unaudited financial results for the three month period to 31 March 2019 and the Management Discussion and Analysis for the same period. Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil.
London, England- Horizonte Minerals Plc. is pleased to announce, following the company's AGM held in London on 9 May 2019, a presentation made at the event by CEO Jeremy Martin is now available on the company's website at www.horizonteminerals.com.. Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil.
London, England- Horizonte Minerals Plc. is pleased to announce the detailed voting results for the election of its Board of Directors, which took place at the Company's Annual General Meeting held on 9 May 2019. Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the...
Horizonte Minerals Plc, the nickel development company focused in Brazil, announces that its annual report and accounts for the year ended 31 December 2018, together with Management's Discussion and Analysis as at 31 December 2018 and Notice of Meeting and Management Information Circular were posted to shareholders on Wednesday and are available to...
Horizonte Minerals (HZM LN) 2.21p, mkt cap £32.6m –2018 results and project update Horizonte Minerals has reported an attributable loss of £5.0m for 2018 (2017 - £5.1m loss) as it progresses towards the development of its Araguaia ferronickel project in Brazil and advances the pre-feasibility study on the nearby Vermelho nickel cobalt project. The company reports a 31st December 2018 cash balance of £6.5m (31st December 2017 - £9.4m). The feasibility study for the Araguaia project, which is described as “construction ready, subject to financing” describes an initial production phase where approximately 900,000tpa of ore is treated in a Rotary Kiln Electric Furnace (RKEF) to produce approximately 14,500tpa of nickel contained in 52,000tpa of ferronickel. Capital investment of US$443m for the initial phase of the project is expected to generate an after tax NPV8% of US$401m and an IRR of 20.1% with cash costs equivalent to US$3.08/lb of contained nickel. The study includes the flexibility to double production to 29,000tpa of contained nickel by the addition of a second RKEF in the third year of the project. The additional capital expenditure of US$199.7m is to be funded from internally generated cash flow and enhances the after tax NPV8% to US$741m, increases the IRR to 23.1% and reduces the cash cost of production to US$3.00/lb. The construction licence for the project was awarded in January and advisors for the project financing have been appointed. Horizonte Minerals describes the award of the construction licence as a “major de-risking step for Araguaia, which is now fully permitted to commence construction, subject to financing. This is something the Company will prioritise in 2019, as well as working out how to optimise the structure for maximum shareholder value.” At Vermelho, which was acquired from Vale in January 2018, a pre-feasibility study is underway and is expected to be completed in mid-2019. The company points out that a “full Feasibility Study on Vermelho had been completed by Vale and it was scheduled for construction in 2006” which implies that the current pre-feasibility work will have a substantial body of historical technical data to draw on. Commenting on the nickel market, Horizonte Minerals’ Chairman, David Hall, explained that “Nickel like most metals experienced a lull both in price and market interest in the back end of 2018. However, Horizonte is well placed to benefit from the widely anticipated upwards trend in nickel demand from both the traditional stainless-steel markets as well as the new demand from Electric Vehicles (EVs).” Conclusion: The completion of the feasibility study and the award of the construction licence for Aragauia puts the financing of the US$443m project centre-stage. We look forward to further news on the progress of the funding of Aragauia and on the results of the pre-feasibility work at Vermelho later in the year.
Horizonte Minerals plc (AIM/TSX) is a nickel development company focused in Brazil, which wholly owns the advanced Araguaia ferronickel project and the Vermelho nickel-cobalt project, located to the south of the Carajás mineral district. The Company is developing Araguaia into the next major ferronickel mine in Brazil, with targeted production by 2022. The Company has a strong institutional shareholder structure, including Teck Resources Limited, Canaccord Genuity Group, Richard Griffiths, Lombard Odier Asset Management (Europe) Limited, JP Morgan, Hargreaves Lansdown and Glencore, demonstrating that institutions recognise the true potential of the assets. The Company is led by a management team with extensive experience in both Brazil and the nickel sector.
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