LONDON (Alliance News) - Horizonte Minerals PLC on Wednesday said the preliminary environmental licence for the mining and beneficiation plant at the Araguaia nickel project in Brazil has been granted.
The licence is a "significant milestone", the company said, demonstrating the viability of the project.
As a result of the award, Horizonte can progress towards securing the installation licence, which will permit construction of the project.
"This major milestone brings Horizonte another step closer to developing Brazil's next major nickel mine," said Horizonte Chief Executive Jeremy Martin.
Shares in Horizonte were up 7.7% to 2.29 pence Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Horizonte Minerals (HZM)