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Horizonte Minerals PLC - nickel company focused on Brazil - Awards all major and long-lead-time process plant equipment contracts for its flagship Araguaia nickel project.
‘Importantly it provides more certainty on costs for a material portion of the overall capital expenditure and builds confidence in the project schedule by gaining commitments for the delivery of key equipment on site in the timeframe required,’ it explains.
Contracts awarded, to date, total $293 million.
Chief Executive Jeremy Martin says: ‘Completing the award of these key process related contracts is a major milestone for the development of Araguaia as, together with the previously announced award of the furnace contract, this represents around $135 million of capital expenditure on the project and provides increased confidence in our planned development timelines.’
Current stock price: 99.50 pence, up 1.0% on Wednesday
12-month change: down 39%
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