- Write by:
-
Friday, August 5, 2022 - 13:21:20
-
657 Visit
-
Print
Mining News Pro - Horizonte Minerals said on Thursday that it had signed $135 million in contracts with machinery suppliers for the Araguaia nickel project in Brazil.
The London-listed miner expects the equipment to begin arriving in the northern Pará state, where the project is located, in October, with operations scheduled to begin in 2024, said Horizonte’s head of finance, Tiago Miranda.
The Araguaia project, which Horizonte acquired from Glencore in 2015, will initially produce up to 14,500 tonnes of nickel per year, but this figure could reach 29,000 tonnes after a second production line comes online in 2027, the company said.
Late last year, Horizonte secured a $633 million financing package to develop the project.
Total capital expenditure for the construction of the first production line is estimated at $500 million, according to the company, which plans to use the additional funds as working capital and to finance the second line.
Short Link:
https://www.miningnews.ir/En/News/621916
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
French mining group Eramet said on Wednesday it had reached an agreement with the French government to continue its ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
A US and European Union push to reach an accord on fostering critical mineral supply chains is set to miss another ...
Indonesia’s mining minister on Wednesday said divestment of Vale Canada Ltd and Sumitomo Metal Mining Co. Ltd’s shares ...
Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds ...
NextSource Materials has submitted an application to build a downstream battery anode facility (BAF) to process graphite ...
Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them ...
Indonesian state-controlled miner Aneka Tambang (Antam) aims to launch the construction of two nickel processing ...
No comments have been posted yet ...