Horizonte Minerals PLC - Brazil-focused nickel development firm - Wins construction licence package for development of a power line for its Araguaia ferronickel project. Notes the licence package includes the construction and related fauna and flora licences. Says licence package permits the implementation of 120 kilometres of 230 kilovolts power line and related substation. The power line will connect Araguaia to the national power grid and will cover the full power requirement at nameplate capacity for the mine.
"Araguaia is already fully permitted to start construction. 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," says Chief Executive Jeremy Martin.
Current stock price: 7.80 pence
Year-to-date change: up 6.1%
By Zoe Wickens; zoewickens@alliancenews.com
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Horizonte Minerals (HZM)