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Horizonte Minerals Plc
Summary
| Project: | Vermelho | |
|---|---|---|
| Deposit: | Vermelho | |
| Location: | Brazil | |
| Commodities: | Nickel-Cobalt-iron | |
| Date: | 10/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-10-2019: Horizonte Minerals Plc announces a Pre-Feasibility Study report for its Vermelho deposit at the Vermelho project. PFS results incl. post-tax NPV of $1.7B, IRR of 26%. Horizonte Minerals Plc, (AIM/TSX: HZM) ('Horizonte' or 'the Company') the ni | |
| Resources: | (Reserve, Prob.): 141.3Mt @ 0.91% Ni, 0.052% Co, 23.1% Fe | |
| CP/QP: | [Resources]: Andrew F. Ross (Snowden Mining Industry Consultants Pty Ltd.) | |
| ABSTRACT: | 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 Pre-Feasibility Study ('PFS' or the ‘Study’) for the 100% owned Vermelho Nickel-Cobalt Project (‘Vermelho, or ‘the Project’) in Brazil’s Pará State. The Project is located in the north-western Brazilian state of Pará in the Carajás Mining District, approximately 85 kilometres (‘km’) north-west of the Company’s 100% owned Araguaia North Project. The Project comprises a planned 38 year operation with an open pit nickel laterite mining operation that mines a 141.3 million tonne (Mt) Probable Mineral Reserve (at a cut-off of 0.7% Ni) to produce 924,000 tonnes of nickel contained in nickel sulphate, 36,000 tonnes of cobalt contained in cobalt sulphate and a saleable by-product, kieserite (a form of fertiliser) of which 4.48 Mt are produced. The project will utilise a hydro-metallurgical process comprised of a beneficiation plant where ore is upgraded prior to being fed to a High-Pressure Acid Leach (HPAL) and refining Plant which produces the sulphates. The plant will be constructed in two phases, with an initial capacity of 1 Mt per annum (Mt/a) autoclave feed (Stage 1), then after three years of production, a second process train (Stage 2 Expansion) will be constructed effectively doubling the autoclave feed rate to 2 Mt/a. The Stage 1 plant and project infrastructure will be constructed over a 31-month period. The nickel and cobalt sulphate products will be transported by road to the port of Vila do Conde (the same facility planned for Araguaia) for sale to overseas customers. The kieserite will be transported to consumers within Pará state. | |
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