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Horizonte starts collecting data on acquired Glencore asset

Work is underway to bring the project into alignment with Horizonte's development schedule in terms of environmental and social permitting

Brazil
Mind the GAP ... the combined projects will form one of the largest nickel saprolite assets in the world.

Dual-listed Horizonte Minerals Plc (LON:HZM, TSE:HZM) has kicked off social and environmental base line data collection on its recently acquired Glencore Araguaia project (GAP).

The GAP is the nickel project adjacent to Horizonte’s own Araguaia project in north central Brazil; together, the amalgamated projects will form one of the largest nickel saprolite assets in the world.  

The nickel asset developer said consultants have started collecting data for the Vale dos Sonhos target, which is one of the principle nickel deposits recently acquired by Horizonte.

The company said the collection of baseline data for the Vale dos Sonhos deposit is an important step to integrate GAP into the environmental permitting process underway at Horizonte’s advanced Araguaia project, which was successfully awarded the preliminary licence earlier in 2016.

The next step is the award of the installation licence on the project, which will allow construction to start.

“We are pleased to be working with Brandt Meio Ambiente, one of the leading environmental and social consulting groups in Brazil who have been involved in a number of major mining projects in the Carajás region,” said Horizonte’s chief executive, Jeremy Martin. 

“I look forward to updating the market with results from our new pre-feasibility study, which is due imminently,” he added.

Quick facts: Horizonte Minerals PLC

Price: 6.85 GBX

AIM:HZM
Market: AIM
Market Cap: £99.28 m
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