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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (169140)	12/15/2022 2:43:04 PM
From: LoneClone	Read Replies (1) \| Respond to of 193124

Araguaia nickel project construction making good progress – Horizonte miningweekly.com 15th December 2022 By: Mariaan Webb Creamer Media Deputy Editor Online Dual-listed Horizonte Minerals is making good progress on the construction of its Araguaia nickel project, in Brazil, which is on schedule to start production in the first quarter of 2024. When fully ramped up with Line 1 and Line 2, the Araguaia mine will produce 29 000 t/y of nickel. Horizonte By the end of November, about 28% of the total project construction programme has been completed. Earthworks are significantly advanced and due to be concluded in January. The detailed engineering works are 87% complete and due to be concluded during the first quarter of 2023. About 75% of capital expenditure has been awarded to date, amounting to more than $415-million, and the key long lead items are running to schedule with the furnace shell due on site in late December and the rotary kiln due to be delivered in early in the first quarter. "We are very pleased with the construction progress achieved to date which places us in a strong position to deliver the project on-budget and on-schedule, and most importantly with a strong safety track record. We are also very pleased to have drawn from the senior debt facility, a core part of the overall funding package of Araguaia,” says CEO Jeremy Martin.