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(HZM) Horizonte Minerals Share Chat

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

  1. Groucho

    Groucho Member

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    25 February 2022

    Horizonte Minerals Plc

    ("Horizonte" or the "Company")


    Award of Furnace Contract to Hatch Ltd. for the Araguaia Project


    Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) the nickel company focused on Brazil is pleased to announce that, following a competitive tendering process, Hatch Ltd. ("Hatch") has been selected as the furnace supply vendor ("the Furnace Contract") for the Araguaia ferronickel project ("Araguaia" or the "Project").

    Hatch is the leading supplier of electric furnaces to the ferronickel industry, with a strong track record in South America, which includes both Anglo American's and Vale's nickel operations in Brazil and South 32's Cerro Matoso operation in Colombia.

    Hatch will supply Horizonte with a circular electric arc furnace rated at 60 megawatt, a calcine transfer system to feed the furnace with 835,000 tonnes per annum of calcine and additional services to ensure successful installation and commissioning. This is termed "the Furnace Process Island", where linked process equipment is procured from one supplier to reduce interface risks and ensure that the entire furnace process delivers to nameplate capacity.


    As part of the Furnace Contract, Hatch has also been engaged to provide execution phase preparation services including:

    · Basic engineering of the Furnace Process Island, which has been substantially optimised since the publication of the Project's Feasibility Study.

    · Planning services to ensure that the furnace components can be supplied and delivered to align with the execution schedule.

    · Commissioning, operational readiness and production ramp-up planning services for the complete ferronickel facility from initial ore preparation to final product.


    In addition to awarding the Furnace Contract, the Company is finalising contracts for Engineering, Procurement and Construction Management, all the other major process equipment, overland power line, earthworks and civil works.


    Horizonte's procurement strategy is based on four key principles:

    · Flowsheet design based on a conventional process that is well within the operating parameters benchmarked throughout the ferronickel industry. The design has been further validated through extensive test work and continuous pilot testing.

    · Use of leading equipment suppliers and services providers who have a successful track record of delivering ferronickel projects and other major industrial projects in Brazil.

    · Application of the process island concept, where equipment that is linked together in the flow sheet is procured from one leading vendor, to reduce interface risk also enabling whole systems to be optimised.

    · Establishment of an Owner's Team of experienced Brazilian and global projects personnel, supported by an expert advisory panel with decades of ferronickel project design, project delivery and operational experience.

    Alongside procurement, early works continue on site which include geotechnical drilling, site access upgrades and temporary site facilities. The Project is well positioned to start the main earthworks at the start of the dry season in early Q2 2022.


    Horizonte CEO, Jeremy Martin commented: ""Completion of the US$633 million project funding package for the construction of Araguaia was the most significant milestone in Horizonte's journey to date. With an experienced team in place in Brazil, it is the start of a very exciting phase for the Company as the two-year build of Araguaia commences.

    During H2 2021, the team undertook an extensive competitive tendering process across the key equipment packages with tier one vendors that make up the process flow sheet for the development of Araguaia. We are pleased to award the Furnace Contract to Hatch and have them as part of the engineering and delivery team, at Araguaia, bringing their significant experience in delivering large scale, successful ferronickel projects. The knowledge and guidance Hatch has already provided in our execution preparation has been invaluable in terms of ensuring the entire production system is fully integrated and performs to plan.

    We are bringing together a highly experienced group of partners to operate alongside us as we work to deliver Araguaia safely, on time, on budget and with the ongoing support of our communities. With early works underway we look forward to site ground-breaking and the main earthworks commencing at the beginning of the dry season in early Q2.

    With the nickel price reaching decade long highs and the clean energy transition dramatically increasing the demand for nickel in both stainless steel and battery markets, there has never been a better time to be bringing a new, low-carbon, scalable nickel project online. There are very few other projects in the near-term global pipeline that match the economic and sustainability credentials of Araguaia. Whilst we are focused on delivering stage one of the Project, our expanding team is also able to progress our expansion plans to double production at Araguaia alongside bringing Vermelho to a construction decision. It is a very exciting time for the business, and we look forward to keeping investors updated as these workstreams progress."
     
  2. Groucho

    Groucho Member

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    LSE - JM Interview
    https://www.brrmedia.co.uk/broadcas...-minerals-award-of-furnace-contract-to-hatch/

    The time line was really useful, we will hopefully become fully fincting by q3 or q4 2023. Still long time away but sp is very low so if we are prepared to wait lots of profit to be made here. Nickle keeps going up so good times ahead

    IMPRESSIVE, everyone should have a massive beaming smile. I know I have.

    Excellent update, providing a confidence boost for anyone with any doubts on progress.
    Jeremy looked particularly pleased when the topic of the BMO conference came up, “we have a full schedule”
    Exciting times ahead for sure

    Most exciting thing for me from yesterday's JM interview was that A1 commissioning is being targeted at Q3/Q4 2023. Which is quicker than I had allowed for in my model.
    If we take beginning of Q4 2023 as the mid point commissioning date, then this is just 401 trading days away.
    For that stage, so close to nickel sales revenue, I have SP at 25p min (based on 75% A1 npv8), even if nickel just stays where it is.
    So 6p to 25p is an average of 1p per month SP growth over 19 months.
     
    Last edited: Feb 26, 2022
  3. Groucho

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  4. Groucho

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  5. Groucho

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    22 March 2022

    Horizonte Minerals Plc

    ("Horizonte" or the "Company")


    Award of EPCM Contract to AFRY

    for Construction of the Araguaia Ferronickel Project



    Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) the nickel development company focused in Brazil, is pleased to announce that it has awarded the Engineering, Procurement and Construction Management contract (the "EPCM Contract") for the construction of its 100% owned Araguaia ferronickel project ("Araguaia" or the "Project") to Pöyry Tecnologia Ltda ("Pöyry"), the Brazilian subsidiary of global engineering services firm AFRY.

    AFRY is a global leader in engineering, design and advisory services with specialist expertise and a strong track record in delivering pyrometallurgical projects for the metals and mining industry. Award of the EPCM Contract to AFRY follows a comprehensive and competitive global tender process.

    The EPCM Contract, awarded via the Company's wholly owned subsidiary Araguaia Niquel Metais Ltda., involves the provision of a comprehensive range of services across engineering, procurement, construction management, project management and commissioning.

    In line with the award of the EPCM contract, Horizonte has been building an experienced owner's team to work alongside AFRY. Under the guidance of Mike Drake, as Head of Projects, the Company has assembled a strong project leadership team with a successful track record of implementing large scale projects in Brazil with a particularl focus on the ferronickel industry. The project leadership team is now complete and mobilised at both the Company's Belo Horizonte and Conceição do Araguaia offices. The full owner's team totals 85 people across all key disciplines.

    Horizonte's owner's team will work closely with Pöyry to provide direction and governance. Pöyry has been working with the Company since Q3 2021 to undertake early works and other execution preparation phase services.


    Recent appointments to the Araguaia Project Leadership Team include:


    · Leonardo Vianna, Araguaia Project Director

    Leo is a Mechanical and Mechatronic Engineer with over 24 years of experience in project implementation & management. He was previously Project Director for Vale's B$1.9B Bahodopi nickel project (REKEF processing plant) in Asia. He has significant experience in Project Management (FEL methodology and PMI), Engineering, Construction, Maintenance and Health & Safety and has worked in Brazil, Mozambique, South Africa, Guinea, United Arab Emirates.


    · Leonardo Paiva, Project Services Manager

    Leo is a Civil Engineer with over 16 years of experience in the industry. Most recently he was Head of Projects for MRN with its life of mine plan extension project. Previously he worked in Arcadis for 12 years with Project and Program Management of major industrial and infrastructure projects in Brazil, Malaysia, Indonesia, and Peru, with a focus on the mining industry, from conception to completion.


    · Marcia Wiesen, Commissioning and Business Readiness Manager

    Marcia is an electrical engineer with over 30 years of experience building and commissioning electric furnaces. Marcia's previous roles include Commissioning Manager of Vale's Onca Puma ferronickel plant with two reduction furnace of 120MVA, Commissioning Director of Koniambo Nickel ferronickel plant with two reduction furnace of 80MVA and, Site Manager of SMS Siemag, of erection, cold and hot commissioning of two 48MVA ferronickel reduction furnaces at Minera Loma de Níquel,


    · Marco Magalhães, Construction Manager

    Marco is a Civil Engineer with over 30 years of experience primarily in mine operation and capital projects. Most recently, he led the entire construction process for Appian's Serrote Project in Brazil. He has 12 years of experience in the construction, contract management, commissioning, and start-up phases in the Mina Brucutu and Coal Moatize projects by Vale SA and Minas Rio by Anglo American.


    · Albert Jacobs, Engineering Manager

    Albert is a Mechanical Engineer with over 30 years of experience in pryometallurgy and smelting. Albert has extensive experience in managing small- and large-scale projects from inception to final handover, developing project plans, standards, procedures, manuals and systems, growing teams, managing stakeholders, performing planning, monitoring and control functions, and ensuring efficient project completion & close-out). His previous roles include Engineering Manager roles at Anglo American, HATCH and Kumba Iron ore.


    · Manuel Rodriguez, Technical Manager

    Manuel is an experienced Metallurgical and Material Engineer, with over 20 years of experience in the ferronickel industry. He previously spent 11 years as Process Engineer for Anglo American's Barro Alto project, optimising refractories for electrical furnace, refinery, workforce training & development, and improving ore preparation, rotary kilns, refractories and RKEF processes.


    Horizonte CEO, Jeremy Martin commented: "We are delighted to welcome AFRY, another world class partner to the team for the construction of the Araguaia project. AFRY is a leader in its field and has a strong track record of successfully delivering metals and mining projects. We have been working with the local Pöyry team for several months in our project execution planning phase to ensure a smooth transfer to the construction phase of Araguaia. Araguaia will be delivered according to an EPCM strategy, in partnership with AFRY. The Horizonte owner's team will be integrated into the AFRY team with clear roles and responsibilities which is standard practice in Brazil.

    In parallel with the award of the EPCM contract we have built out our owner's team with a focus on key individuals in the ferronickel space in Brazil, resulting in the Company we now having a very strong in-country team. The quality of the Araguaia project, the relevance of the nickel industry in the clean energy transition and Horizonte's high sustainability standards has enabled us to secure the industry's leading talent. "
     
  6. Groucho

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  7. Groucho

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  10. Groucho

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  14. Groucho

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    19 May 2022

    Horizonte Minerals Plc

    ("Horizonte" or the "Company")


    Breaking Ground at the Araguaia Nickel Project


    Horizonte Minerals Plc (AIM: HZM, TSX: HZM), the nickel development company with assets in Brazil, is pleased to announce that the Company has officially commenced construction and broken ground at its flagship Araguaia Nickel Project (''Araguaia'' or the "Project").

    A ground breaking ceremony was held on 18 May 2022. This key milestone marks the transition of the Project from development to the construction phase. This Tier 1 project has a 24-month construction timeframe with Stage 1 (first line) target production of 14,500 tpa of nickel. Araguaia will be a large high-grade, scalable, low-cost producer, with a long mine life and will be a low-carbon source of ferronickel.

    The Company has awarded the majority of the key long-lead equipment contracts, including the award of the furnace [see announcement dated 25 February 2022], earthworks contract [see announcement dated 11 May 2022], the EPCM contract [see announcement dated 22 March 2022] and has now broken ground. A significant amount of progress has been made in the four months since Project approval, focussed around early works and site preparation ahead of the main mobilisation of the earthwork's contractor, basic and detailed engineering and the tender and award of a number of key process equipment packages.

    As at the end of April 2022, the Company had awarded contracts totalling US$204 million with a further U$66 million of contracts to be awarded imminently, on budget. In total this represents approximately 50% of our pre-contingency project direct capex.

    Current global inflation is well-documented, however the Company has an embedded culture of continuous optimisation and business improvement throughout the organisation as part of a plan to offset these effects. This work is designed to allow for early optimisation in the engineering process and identification of cost saving initiatives, a critical process in the current macro environment, and has yielded positive results to date.


    Jeremy Martin, CEO of Horizonte, commented:

    "We are extremely excited to have broken ground at our fully-funded Araguaia project. We are a step closer to achieving our vision of bringing this Project into production and generating first revenues. This all comes at a time where the nickel market is facing constrained supply which will benefit Horizonte as we become a globally significant producer.

    "Our team has made excellent progress on the key aspects of engineering, procurement and site works. Whilst we are facing inflationary pressures along with all other global projects, to date we have been able to award approximately 50% of our pre-contingency project direct capex on budget, which is a very positive result."
     
  15. Groucho

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    4 July 2022


    Anglo Pacific Group PLC

    ("Anglo Pacific", the "Company" or the "Group")


    First production announced by Brazilian Nickel PLC


    Anglo Pacific Group PLC (LSE: APF, TSX: APY) is pleased to note the commencement of production from the small scale PNP1000 plant at the Piauí Nickel Project in Brazil has been announced by Brazilian Nickel PLC (First Nickel from PNP1000 - Brazilian Nickel PLC).

    Annual production guidance for 2022 is for 300 tonnes of nickel and 3 tonnes of cobalt ramping up to 1,400 tonnes of nickel and 35 tonnes of cobalt in 2023.

    Anglo Pacific was an early-stage sponsor of the Piauí project, investing US$2 million in September 2017, in return for a 1.25% royalty on the project. 2022 will be a pivotal year for Brazilian Nickel, during which it is anticipated they will successfully achieve multiple significant milestones, including the completion of a Bankable Feasibility Study currently being completed by SNC-Lavalin in relation to the full-scale project. As part of the agreement, the Group has the option to acquire, for an additional US$70 million consideration, an incremental 3% royalty rights to part fund the construction of a mine with an expected annual production capacity of up to 24 Kt of nickel and 1 Kt of cobalt.

    The Piauí project has the potential to become a significant asset in the Group's portfolio, with a full-scale operation contributing annual royalty income ranging between US$12.5-17.5 million at current long-term broker consensus forecasts, thus further accelerating the Company's transition towards future facing commodities.
     

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