TIDMHZM
RNS Number : 4858I
Horizonte Minerals PLC
20 June 2017
NEWS RELEASE
20 June 2017
HORIZONTE MINERALS AWARDS FURTHER CONTRACTS FOR THE FEASIBILITY
STUDY FOR THE ARAGUAIA NICKEL PROJECT
_____________________________________________________________________
Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or
'the Company'), the nickel development company focused in Brazil,
is pleased to announce that, further to the announcement on 6 March
2017, it has awarded further contracts for key parts of the
Feasibility Study ('FS'), for its 100%-owned Araguaia nickel
project ('Araguaia' or 'the Project').
The contracts awarded are as follows:
-- Steinweg Handelsveem (Latin America) S.A - Material transport and logistics
-- SM&A Electrics - Power infrastructure and power transmission line
-- VCE Mine Consultancy - Mining Permit reporting
The Feasibility Study is at an advanced state with a number of
the principal work streams over 50% complete. The Company's
strategy is to position itself as one of the lowest cost nickel
producers globally. The Araguaia Project is designed to produce
14,500 tonnes per annum ('tpa') of nickel using the proven rotary
kiln electric furnace technology ('RKEF').
Further Details
Horizonte has awarded contracts to the following groups to
deliver the relevant infrastructure work and permitting for the
Araguaia Feasibility Study:
Material Transport and Logistics - Steinweg Handelsveem (Latin
America) S.A
Steinweg is a well-established company in Container and
Break-Bulk Operations, in the non-ferrous world, soft commodities,
general cargo, etc. with offices and operations in more than 70
locations worldwide. Founded in Rotterdam, the Netherlands in 1847
Steinweg has grown to a global network of offices and has a
presence in Brazil since the 1980's. It is active in providing word
wide logistics solutions including, forwarding, chartering, port
operations, warehousing, processing, general and bulk cargo amongst
other logistics relate services. Steinweg has extensive experience
in the region around the Araguaia Project currently operating the
logistics for a number of operating mines in the Carajas mining
district.
Power infrastructure and power transmission line - SM&A
Electrics
SM&A has developed a strong track record delivering complete
electrical engineering solutions in Brazil since foundation in
2000. It has an experienced management team and an open range of
electrical engineering activities, acting in various segments of
industrial activities, such as steel, mining, cement, projects for
infrastructure works, and power systems up to 345kV. The company
undertakes work in the following areas: Conceptual projects, Basic
and Detailed projects, operational commissioning and full
operations.
Mineral concession legal report for Mine operation permitting -
VCE Mine Consultancy
VCE is a consultancy based in Brazil, specialising in mine
engineering and permitting. The company performs strategic
planning, process optimisation and technical legal reports for mine
operation permitting. VCE has worked for a number of flagship
mining projects in the same region of Brazil as the Araguaia Nickel
project which makes it well placed to undertake the current
work.
The Araguaia Nickel Project
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 Pre-Feasibility Study ('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 tpa ('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.
* *S * *
For further information visit www.horizonteminerals.com or
contact:
Jeremy Martin Horizonte Minerals Tel: +44 (0)
plc 20 7763 7157
David Hall Horizonte Minerals Tel: +44 (0)
plc 20 7763 7157
Emily Morris finnCap Ltd (Corporate Tel: +44 (0)
Christopher Broking) 20 7220 0500
Raggett finnCap Ltd (Corporate Tel: +44 (0)
James Thompson Finance) 20 7220 0500
finnCap Ltd (Corporate Tel: +44 (0)
Finance) 20 7220 0500
Damon Heath Shard Capital (Joint Tel: +44 (0)
Broker) 20 7186 9952
Erik Woolgar Shard Capital (Joint Tel: +44 (0)
Broker) 20 7186 9952
Lottie Brocklehurst St Brides Partners Tel: +44 (0)
Ltd (PR) 20 7236 1177
Megan Dennison St Brides Partners Tel: +44 (0)
Ltd (PR) 20 7236 1177
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%, Lombard Odier Asset Management (Europe)
Limited 14.11%, Richard Griffiths 13.8%, JP Morgan 8.98%, Hargreave
Hale 6.84% and Glencore 6.4%.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
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".
Forward-looking information is based on the reasonable assumptions,
estimates, analysis and opinions of management made in light of its
experience and its perception of trends, current conditions and
expected developments, as well as other factors that management
believes to be relevant and reasonable in the circumstances at the
date that such statements are made, and are inherently subject to
known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to risks related to: exploration and mining risks,
competition from competitors with greater capital; the Company's
lack of experience with respect to development-stage mining
operations; fluctuations in metal prices; uninsured risks;
environmental and other regulatory requirements; exploration,
mining and other licences; the Company's future payment
obligations; potential disputes with respect to the Company's title
to, and the area of, its mining concessions; the Company's
dependence on its ability to obtain sufficient financing in the
future; the Company's dependence on its relationships with third
parties; the Company's joint ventures; the potential of currency
fluctuations and political or economic instability in countries in
which the Company operates; currency exchange fluctuations; the
Company's ability to manage its growth effectively; the trading
market for the ordinary shares of the Company; uncertainty with
respect to the Company's plans to continue to develop its
operations and new projects; the Company's dependence on key
personnel; possible conflicts of interest of directors and officers
of the Company, and various risks associated with the legal and
regulatory framework within which the Company operates.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDMGMVMLKGNZM
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