terça-feira, 5 de novembro de 2024
Mais
    InícioNotíciasHorizonte to secure fund for Araguaia project development in Brazil

    Horizonte to secure fund for Araguaia project development in Brazil

    Publicado em

    Nickel development company Horizonte Minerals has signed a royalty agreement with Orion Mine to provide financing to advance its wholly owned Araguaia ferronickel project in Brazil.

    Orion will provide $25m in cash to Horizonte for 2.25% royalty in the Araguaia project.

    The royalty is applied to the first 426,429t of contained nickel within the produced and sold final product, ferronickel.

    This nickel source is equivalent to the production estimated over the mine life in the first stage of the feasibility study.

    Over the past three years, Orion has provided financing to many mining construction projects and has deployed more than $1.5bn in royalties, streams, debt and equity.

    Orion Resource Partners portfolio manager Philip Clegg said: “Orion is delighted to become a major investor in Araguaia, one of the leading nickel development projects globally. We look forward to supporting Horizonte as it enters the next phase of development of its world-class portfolio of nickel assets.”

    In January, the company secured the necessary construction licence from the Brazilian Pará State Environmental Agency (SEMAS) to develop its Araguaia project.

    Horizonte Minerals chief executive Jeremy Martin said: “This royalty financing is non-dilutive for shareholders, and has been pre-designed to be compatible with the project funding package.

    “Nickel has been an outstanding performer this year, currently trading almost 50% higher than at the start of 2019. At current nickel prices of $15,500/t, the Araguaia Feasibility Study Stage 1 returns an NPV of more than $580m.”

    In August 2016, Horizonte took over the Glencore Araguaia nickel project (GAP).

    Fonte: Mining Technology

    São Paulo
    nuvens quebradas
    19.9 ° C
    20.3 °
    19.5 °
    93 %
    1kmh
    75 %
    ter
    24 °
    qua
    27 °
    qui
    27 °
    sex
    22 °
    sáb
    19 °

    Notícias recentes

    Gladiator Metals (TSXV:GLAD) Reports Significant Copper Mineralization at Whitehorse Copper Project as Drilling Progresses

    (adsbygoogle = window.adsbygoogle || ).push({}); Gladiator Metals (TSXV:GLAD) has announced progress in its...

    Great Atlantic Resources (TSXV:GR) Intersects Visible Gold in Latest Drilling at Golden Promise Property, Newfoundland

    (adsbygoogle = window.adsbygoogle || ).push({}); Great Atlantic Resources (TSXV:GR), through its wholly-owned subsidiary...

    Patriot Battery Metals (TSX:PMET) Advances Feasibility Study with Extensive Drilling and Data Collection at Shaakichiuwaanaan Lithium Project in Quebec

    (adsbygoogle = window.adsbygoogle || ).push({}); Patriot Battery Metals (TSX:PMET) has issued an update...

    leia mais

    Gladiator Metals (TSXV:GLAD) Reports Significant Copper Mineralization at Whitehorse Copper Project as Drilling Progresses

    (adsbygoogle = window.adsbygoogle || ).push({}); Gladiator Metals (TSXV:GLAD) has announced progress in its...

    Great Atlantic Resources (TSXV:GR) Intersects Visible Gold in Latest Drilling at Golden Promise Property, Newfoundland

    (adsbygoogle = window.adsbygoogle || ).push({}); Great Atlantic Resources (TSXV:GR), through its wholly-owned subsidiary...

    Patriot Battery Metals (TSX:PMET) Advances Feasibility Study with Extensive Drilling and Data Collection at Shaakichiuwaanaan Lithium Project in Quebec

    (adsbygoogle = window.adsbygoogle || ).push({}); Patriot Battery Metals (TSX:PMET) has issued an update...