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(HZM) Horizonte Minerals Share Chat

Discussion in 'General Share Chat (HZM)' started by Stabilo123, Feb 20, 2016.

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    14 January 2019


    HORIZONTE MINERALS AWARDED CONSTRUCTION LICENCE FOR ARAGUAIA FERRONICKEL PROJECT

    __________________________________________________________________


    Horizonte Minerals Plc, (AIM: HZM, TSX: HZM)('Horizonte' or 'the Company'), the nickel development company focused inBrazil, is pleased to announce that it has been awarded the construction licence for the development of its 100% owned Araguaia Ferronickel Project ("Araguaia" or "the Project") inBrazil. The award of the Construction Licence, Licença de Instalação ("LI") in Portuguese, was granted by SEMAS, the Brazilian Pará State Environmental Agency ('SEMAS').


    Highlights:
    · The granting of the LI provides Horizonte with the permits required to construct the Araguaia rotary kiln electric furnace ("RKEF") processing plant and associated infrastructure;

    · The LI approval represents a major de-risking step for Araguaia, which is now fully permitted to commence construction;

    · Receipt of the permit follows release of the Feasibility Study ("FS") results in October 2018 and filing of the 43-101 FS report on SEDAR in December 2018.


    Jeremy Martin, Chief Executive of Horizonte, commented:

    "I am very pleased to announce the award of the Construction Licence (LI) for Araguaia as this is a major milestone for the Company. Subject to funding, the company is now in a position to commence construction with the necessary environmental permits approved, including water abstraction permits issued in 2018 together with the newly issued LI. The LI allows development to commence on the RKEF process plant and associated infrastructure.

    The award of the LI has been delivered on time and on budget with the Horizonte team working closely with SEMAS, other State agencies and the local communities. Consistent with our objective to provide long-term sustainable value for our shareholders, employees and communities, we developed integrated solutions focused on environmental protection, water efficiency and socio-economic development. The LI award follows on closely from the completion of the FS, demonstrating that Araguaia is a Tier 1 asset with the potential to be a low-cost supplier of nickel in the form of high-grade ferronickel to the stainless-steel industry. Over the initial 28-year mine life, Araguaia is expected to generate cash flows after taxation ofUS$1.6 billionand sits on the lower half of the global cost curve.

    The LI and FS results combined with the positive fundamentals around the nickel market positions Horizonte well for 2019, with the construction-ready Araguaia project to supply the ferronickel market and our second project, the Vermelho nickel cobalt project, being advanced to supply the Electric Vehicle battery market. We look forward to updating the market over the coming months, at what is an exciting time for the Company."

    Detailed Information

    After receiving the Preliminary Environmental Licence ("LP") in 2016, concluding the FS in October 2018 and filing of the FS on SEDAR in December 2018, the receipt of the LI allows the Company to undertake construction activities for the Araguaia project.

    The Company worked with Environmental Resource Management ('ERM'), a global leader in this field, together with local Brazilian groups: Integratio Mediação Social e Sustentabilidade (social and land) and DBO Environmental Engineering (fauna) for the FS environmental and social work streams and the project permitting work for the LI. All work has been undertaken to the International Finance Corporation (IFC) Performance Standards, 1, 2 and 5 and Brazilian CONAMA environmental legislation.

    The groups, together with the Company, conducted a number of phases of work in 2017 and 2018 including:

    • Environmental Control Plans - elaboration and detailing of socio-environmental programs;

    • Inventories of fauna and flora;

    • Air dispersion modelling;

    • Hydrogeological modelling and water balance;

    • Visits by physical, biological and social analysts to site; and,

    • Air, noise and water monitoring - ongoing as part of base line data build up into the construction and operational phase.

    Araguaia will generate approximately 500 direct and indirect jobs in the south-eastern rural area of Pará State, over the 28 years of operations. The majority of these workers during the operational phase will reside locally. The peak construction workforce is expected to reach over 1,000.

    Community contributions are expected to total overUS$700 millionduring the life-of-mine, including:

    • OverUS$400 millionin company taxes; and,

    • OverUS$280 millionin employee and contractor wages.
     
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