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Horizonte Minerals Plc
Summary
| Project: | Araguaia | |
|---|---|---|
| Deposit: | Araguaia | |
| Location: | Brazil | |
| Commodities: | Nickel-Iron-Aluminium-Cobalt | |
| Date: | 10/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-10-2018: Horizonte Minerals Plc announces a Feasibility Study report for its Araguaia deposit at the Araguaia project. FS results incl. Post-tax NPV of US $401M (8%), IRR of 20.1%, 28yr LOM at the project. LONDON, Oct. 29, 2018 -- Horizonte Minerals Pl | |
| Resources: | (Reserve, P+P): 27.29Mt @ 1.69% Ni, 17.15% Fe, 4.94% Al2O3 | |
| CP/QP: | [Overall Report]: Frank Blanchfield (Snowden Mining Industry Consultants Pty Ltd.) | |
| ABSTRACT: | LONDON, Oct. 29, 2018 -- Horizonte Minerals Plc, (AIM/TSX: HZM) ('Horizonte' or 'the Company') the nickel development company focused in Brazil, is pleased to publish the results of the Feasibility Study ('FS' or the ‘Study’) for the Araguaia Ferronickel Project (‘Araguaia’, or ‘the Project’) in Brazil’s Pará State. The Study confirms Araguaia as a Tier 1 project with a large high-grade scalable resource, a long mine life and a low-cost source of ferronickel for the stainless-steel industry. Araguaia’s FS design allows for future construction of a second Rotary Kiln Electric Furnace (‘RKEF’) process line, with potential to double Araguaia’s production capacity from 14,500 tpa nickel up to 29,000 tpa nickel. Compelling economic and technical results from the Study are expected to support project financing, offtake agreements and future development milestones. Araguaia’s rapid timeline to production should position it to take advantage of the forecast growth in the nickel market over the short to medium-term. Horizonte CEO, Jeremy Martin, commented; “I am delighted to deliver the Feasibility Study for the Araguaia ferronickel project. The Study represents the most significant milestone in the Company’s development to date. From initial discovery by Horizonte combined with the acquisitions from Teck and Glencore, this is the culmination of a long journey and one that not many companies successfully achieve. Horizonte owns one of the largest undeveloped ferro-nickel projects in the world, in a mining friendly jurisdiction, with good infrastructure and a compelling set of economics as defined in today’s FS. “The FS shows that Araguaia can be a significant low-cost supplier of nickel in the form of high-grade ferronickel to the stainless-steel industry, over the initial 28-year mine life the operation generates cash flows after taxation of US$1.6 billion, delivers an IRR of over 20% and sits on the lower half of the global cost curve. | |
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