Horizonte Minerals calls awarding of civil works contract a 'key milestone'
Horizonte Minerals (AIM: HZM, TSX: HZM) announced today it awarded the industrial civil works contract for its construction of its 100%-owned Araguaia nickel project to Companhia Paranaense de Construção S.A. (Copa)
Horizonte said that the scope of the contract incorporates the supply and installation of the process plant foundations and related civil works for the supporting infrastructure.
The company said that its Araguaia project is fully funded and in construction. The project will produce 29,000 tonnes of nickel per year to supply the stainless steel market. The company's 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.
Jeremy Martin, CEO of Horizonte, said COPA has a good track record.
“The extension of our relationship with Copa, as a partner in the development of Araguaia, is another key milestone in the Project’s construction schedule. With Copa’s strong track record of successfully delivering infrastructure and mining projects across Brazil, as well as the safe and effective delivery of our earthworks contract at Araguaia, the award of this contract enables us to continue Araguaia’s progress with confidence.”