LONDON, UK / ACCESSWIRE / August 15, 2022 / Horizonte Minerals Plc (AIM:HZM, TSX:HZM), the nickel development company with assets in Brazil, announces it has today published its unaudited financial results for the six-month period to 30 June 2022 and the Management Discussion and Analysis for the same period. Both aforementioned documents have been posted on the Company's website www.horizonteminerals.com and are also available on SEDAR at www.sedar.com.
Highlights for the period:
- Closing of US$633 million funding package for construction of the Araguaia nickel project ("Araguaia" or the "Project");
- A number of key construction contracts including furnace, EPCM, and earthworks awarded for Araguaia;
- Approved start of construction at Araguaia in late January 2022 with earthworks contractor mobilised to site in May to maximise productivity during the dry season;
- Commenced construction and broken ground at Araguaia in May 2022;
- Appointment of two industry leaders to the board: Gillian Davidson (independent non-executive director), Vincent Benoit (non-executive director);
- Philipa Varris appointed as Head of Sustainability;
- 2021 Sustainability Report published which is Horizonte's third such disclosure; and
- Maintained a strong cash position of US$199 million at 30 June 2022, prior to any debt draw down.
Post period highlights
- Contracts totalling US$293 million awarded to-date at Araguaia, including civil works and all major and long-lead time process plant equipment contracts;
- Agreement signed with Serviço Nacional de Aprendizagem Industrial for host community skills training; and
- Araguaia construction running in line with project execution schedule.
An operational video, presenting updates on the progression at Araguaia can be viewed on the Company's website at: https://horizonteminerals.com/uk/en/videos_and_audio/
A full progress update on Araguaia will be provided in September 2022.
For further information, visit www.horizonteminerals.com or contact:
Horizonte Minerals plc
Peel Hunt LLP (Nominated Adviser & Joint Broker)
+44 (0)20 7418 8900
BMO (Joint Broker)
+44 (0) 20 7236 1010
Tavistock (Financial PR)
+44 (0) 20 7920 3150
ABOUT HORIZONTE MINERALS
Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100%-owned, Tier 1 projects in Parà state, Brazil - the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are large scale, high-grade, low-cost, low-carbon and scalable. Araguaia is fully funded and in construction. The project will produce 29,000 tonnes of nickel per year to supply the stainless steel market. Vermelho is at feasibility study stage and will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the EV battery market. Horizonte's combined near-term production profile of over 50,000 tonnes of nickel per year positions the Company as a globally significant nickel producer. Horizonte is developing a new nickel district in Brazil that will benefit from established infrastructure, including hydroelectric power available in the Carajás Mining District.
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SOURCE: Horizonte Minerals PLC