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Horizonte's Araguaia nickel project approved as strategic minerals project in Brazil

Kitco Media
By Vladimir Basov
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(Kitco News) - On Monday, Horizonte Minerals (TSX: HZM) announced that its 100% owned Araguaia nickel project, currently in development, has been approved as a Strategic Minerals Project by the Brazilian Federal Government.

The company said that this approval will ensure that the Araguaia nickel project is treated on a priority basis by the various Government agencies engaged in the construction and operation of the mine, through the support of an Inter-ministerial committee.

Horizonte explained that the Strategic Minerals Policy is aimed at prioritizing the development of mineral projects that are deemed strategic to Brazil's growth and forms part of the Investment Partnership Programme, a government body dedicated to expanding and accelerating the implementation of projects with the participation of the private sector in Brazil.

Importantly, the company noted that Araguaia's selection as a strategic project under the policy will facilitate the necessary interaction amongst different regulatory entities so as to minimize risks and help Horizonte continue its progress towards production, for the benefit of all stakeholders.

CEO Jeremy Martin commented, "The selection of the Araguaia nickel project as a Strategic Minerals Project further demonstrates the global importance of nickel as a critical metal of the future as well as the project's strategic importance to Brazil. We recognise the positive steps the Brazilian Government are taking to help expedite these strategically important projects and we look forward to working closely with them as we advance Araguaia towards production."

Horizonte Minerals is developing two 100%-owned, Tier 1 projects in Pará state, Brazil - the Araguaia nickel project and the Vermelho nickel-cobalt project. 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.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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