Horizonte Minerals Share News (HZM)

(Sharecast News) - Brazil-focussed nickel company Horizonte Minerals has been awarded the construction licence package for the development of the power line on its wholly-owned Araguaia Ferronickel Project, it announced on Thursday.
The AIM-traded firm said the approved package included the preliminary licence, the construction licence, and the related fauna and flora licences.

It said the licences were granted by the Pará state environmental agency, Secretaria de Meio Ambiente e Sustentabilidade.

The licence package would permit the implementation of a 120 kilometre, 230 kilovolt power line, and a respective substation.

Horizonte said the power line would connect Araguaia to the national power grid, and would cover the full power requirement for the project at nameplate capacity.

"Araguaia is already fully permitted to start construction," said chief executive officer Jeremy Martin.

"The award of the power licence package is a critical step in our path to production, and further de-risks the project by securing the full power requirement for commercial operation.

"The power supply will be hydroelectric which is a key factor in the ability to produce a low carbon dioxide per tonne of product, in line with other Brazilian ferronickel producers, placing Araguaia in the lowest half of carbon emitters globally for nickel production."

At 1317 GMT, shares in Horizonte Minerals were down 0.82% at 7.84p.