REG - Horizonte Minerals - DELIVERY OF ROTARY KILN

Horizonte MineralsAnnouncement

29/06/2023 07:00

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RNS Number : 3620E  Horizonte Minerals PLC  29 June 2023

NEWS
RELEASE

29 June 2023

 

HORIZONTE MINERALS ACHIEVES SIGNIFICANT CONSTRUCTION MILESTONE AT ITS ARAGUAIA
NICKEL PROJECT WITH DELIVERY OF ROTARY KILN

 

 

Horizonte Minerals Plc (AIM/TSX: HZM) ("Horizonte" or the "Company"), a nickel
company developing two Tier 1 assets in Brazil, is pleased to announce that a
construction milestone has been achieved at its 100%-owned Araguaia Nickel
Project ("Araguaia" or "the Project") in Brazil, following the successful
delivery to site of the rotary kiln, a key long lead item.

 

Jeremy Martin, CEO of Horizonte Minerals, commented:

"The rotary kiln is a key part of the process flow sheet at Araguaia. Its safe
delivery to site is therefore an important milestone in the construction
schedule given it is one of the key long lead packages. The FLSmidth supplied
rotary kiln was designed and built according to the highest industry-leading
standards which will allow Araguaia to meet its low cost and low environmental
impact targets. The 11 individual sections of the kiln will now be welded
together over the course of the next month, before the sections are lifted
into place on top of the kiln piers for final welding and alignment.

 

"We wish to extend our thanks to everyone involved in the massive logistics
process required to deliver the kiln to site. It involved multiple
stakeholders at federal and state level, along with the teams who have managed
the road, river and power line logistics along the route."

 

FLSmidth, the world's leading supplier of rotary kilns for mining
applications, supplied the 110m long kiln after a 10-month design and build
process and a four-month journey from factory to Araguaia's Project site.
Following delivery to the Port of Outeiro in northern Brazil, the 802-tonne
kiln was transhipped onto barges and transported down the Araguaia River and
subsequently, back onto the highway for the final section into the Project. As
part of the logistics along the route, over 500 power lines had to be lifted
to allow the oversize kiln sections to pass through.

 

 

About the rotary kiln

 

The rotary kiln design incorporates several features that improve the
efficiency of the reduction process, lowering fuel consumption and supporting
our target of becoming a low-cost producer of sustainable nickel.

 

These features include:

i)       optimised to deliver low operating costs and reduced
maintenance requirements;

ii)      the kiln has the lowest specific heat loss in its class with a
specific energy consumption of 489 Mcal/tonne product;

iii)     with an integrated electrostatic precipitator, the operation is
not only efficient, but it also has one of the lowest particulate emission
levels in its class.

 

 

 

 

 

 

Figure 1: One of the convoys carrying the kiln sections making its way to
site. The kiln arrived in the Port of Outeiro in northern Brazil and travelled
by barge up the Araguaia River to Araguatins before being transported to site
by road.

 

 

 

Figure 2: The rotary kiln arriving at the Araguaia Nickel Project. The
individual sections of the kiln will be welded together over the course of the
next month before being lifted into place and aligned on the kiln piers.

 

 

 

 

 

For further information, visit www.horizonteminerals.com
(http://www.horizonteminerals.com) or contact:

 

 Horizonte Minerals plc                                                     info@horizonteminerals.com (mailto:info@horizonteminerals.com)

 Jeremy Martin (CEO)                                                        +44 (0) 203 356 2901

 Simon Retter (CFO)

 Patrick Chambers (Head of IR)

 Peel Hunt LLP (Nominated Adviser & Joint Broker)                           +44 (0)20 7418 8900

 Ross Allister

 David McKeown

 BMO (Joint Broker)                                                         +44 (0) 20 7236 1010

 Thomas Rider

 Pascal Lussier Duquette

 Andrew Cameron

 Tavistock (Financial PR)                                                   +44 (0) 20 7920 3150

 Emily Moss

 Cath Drummond

 

 

 

ABOUT HORIZONTE MINERALS

Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100%-owned, Tier
1 projects in Pará state, Brazil, the Araguaia Nickel Project and the
Vermelho Nickel-Cobalt Project. Both projects are large scale, high-grade,
low-cost, low-carbon and scalable. Araguaia is under construction with first
metal scheduled for Q1 2024. When fully ramped up, with Line 1 and Line 2, it
is forecast to produce 29,000 tonnes of nickel per year. Vermelho is at
feasibility study stage and is expected to produce 24,000 tonnes of nickel and
1,250 tonnes of cobalt to supply the EV battery market. Horizonte's combined
production profile of over 60,000 tonnes of nickel per year positions the
Company as a globally significant nickel producer. Horizonte's top three
shareholders are La Mancha Investments S.à r.l., Glencore plc and Orion
Resource Partners LLP.

 

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to the Company, certain
information contained in this press release constitutes "forward-looking
information" under Canadian securities legislation. Forward-looking
information includes, but is not limited to, the ability of the Company to
complete any planned acquisition of equipment, statements with respect to the
potential of the Company's current or future property mineral projects; the
ability of the Company to complete a positive feasibility study regarding the
second RKEF line at Araguaia on time, or at all, the ability of the Company to
complete a positive feasibility study regarding the Vermelho Project on time,
or at all, the success of exploration and mining activities; cost and timing
of future exploration, production and development; the costs and timing for
delivery of the equipment to be purchased, the estimation of mineral resources
and reserves and the ability of the Company to achieve its goals in respect of
growing its mineral resources; the realization of mineral resource and reserve
estimates and achieving production in accordance with the Company's potential
production profile or at all. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or "will
be taken", "occur" or "be achieved". Forward-looking information is based on
the reasonable assumptions, estimates, analysis and opinions of management
made in light of its experience and its perception of trends, current
conditions and expected developments, as well as other factors that management
believes to be relevant and reasonable in the circumstances at the date that
such statements are made, and are inherently subject to known and unknown
risks, uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to risks related to: the inability of the Company to
complete any planned acquisition of equipment on time or at all, the ability
of the Company to complete a positive feasibility study regarding the
implementation of a second RKEF line at Araguaia on the timeline contemplated
or at all, the ability of the Company to complete a positive feasibility study
regarding the Vermelho Project on the timeline contemplated or at all,
exploration and mining risks, competition from competitors with greater
capital; the Company's lack of experience with respect to development-stage
mining operations; fluctuations in metal prices; uninsured risks;
environmental and other regulatory requirements; exploration, mining and other
licences; the Company's future payment obligations; potential disputes with
respect to the Company's title to, and the area of, its mining concessions;
the Company's dependence on its ability to obtain sufficient financing in the
future; the Company's dependence on its relationships with third parties; the
Company's joint ventures; the potential of currency fluctuations and political
or economic instability in countries in which the Company operates; currency
exchange fluctuations; the Company's ability to manage its growth effectively;
the trading market for the ordinary shares of the Company; uncertainty with
respect to the Company's plans to continue to develop its operations and new
projects; the Company's dependence on key personnel; possible conflicts of
interest of directors and officers of the Company, and various risks
associated with the legal and regulatory framework within which the Company
operates, together with the risks identified and disclosed in the Company's
disclosure record available on the Company's profile on SEDAR at
www.sedar.com, including without limitation, the annual information form of
the Company for the year ended December 31, 2022, and the Araguaia and
Vermelho Technical Reports available on the Company's website
https://horizonteminerals.com/. Although management of the Company has
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking information, there
may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements.

 

 

 

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