REG - Horizonte Minerals - Earthworks Contract Award at Araguaia

Horizonte MineralsAnnouncement

11/05/2022 07:00

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RNS Number : 0127L  Horizonte Minerals PLC  11 May 2022

NEWS RELEASE
 

11 May 2022

 

Horizonte Minerals Plc

("Horizonte" or the "Company")

 

Earthworks Contract Award at Araguaia

 

Horizonte Minerals Plc (AIM: HZM, TSX: HZM), the nickel development company
focused in Brazil, is pleased to announce that it has awarded the earthworks
contract for the construction of its 100%-owned Araguaia ferronickel project
("Araguaia" or the "Project") to Copa Construção S.A. ("Copa").

 

Copa is a leading Brazilian company with extensive experience in mining
projects and civil infrastructure, ranging from roads, viaducts, hydroelectric
power plants, ports, airports and transmission lines. Copa has a portfolio of
more than 2.5 billion cubic meters of concrete installed throughout the
country and has quality management certification.

 

Awarding the earthworks contract is an important step in the construction of
Araguaia. The scope of the contract incorporates the 'process plant and
supporting infrastructure' components of the bulk earthworks for the ferro
nickel plant. The contract scope is designed to ensure the site is ready for
the civil construction works on completion, and will see Copa levelling the
main plant area, creating a series of stepped plateaus that will support the
key process equipment packages and buildings, installing initial drainage
facilities, as well as the main ramp and crusher platform.

 

CEO of Horizonte, Jeremy Martin, commented:

"We are delighted to welcome Copa as a key partner for the construction of our
Araguaia Project. With Copa's strong track record of successfully delivering
infrastructure projects across the country, signing this contract enables us
to commence construction at the beginning of the dry season this quarter as
planned.

 

"This is another important milestone in our 24-month project construction
timeline, with next steps being the award of the civil works, 230 kV powerline
and electromechanical construction contracts. We look forward to keeping the
market updated  on developments at site."

 

 

 

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

 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

 Jos Simson

 Cath Drummond

 

 

About Horizonte Minerals:

Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100%-owned, tier
one 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 fully funded and in
construction. The project will produce 29,000 tonnes of nickel per year to
supply the stainless steel market. Vermelho is at feasibility study stage and
will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the
EV battery market.  Horizonte's combined near-term production profile of over
50,000 tonnes of nickel per year positions the Company as a globally
significant nickel producer. Horizonte is developing a new nickel district in
Brazil that will benefit from established infrastructure, including
hydroelectric power available in the Carajás Mining District.

 

 

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 the acquisition of equipment as described herein, 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 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 as described herein, 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 the acquisition of equipment contemplated herein, 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, 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 (http://www.sedar.com) , including without
limitation, the annual information for of the Company for the year ended
December 31, 2020, the Araguaia Report and the Vermelho Report. 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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