TIDMHZM
RNS Number : 7043V
Horizonte Minerals PLC
07 November 2017
7 November 2017
Horizonte Minerals Plc
('Horizonte' or 'the Company')
HORIZONTE SUBMITS MINE PLAN TO BRAZIL'S NATIONAL MINING
AGENCY
Horizonte Minerals Plc, (AIM/TSX: HZM) ('Horizonte' or 'the
Company') the nickel development company focussed in Brazil, is
pleased to announce that it has submitted its Mine Plan to Brazil's
National Mining Agency ('Agência Nacional de Mineração' ou 'ANM'),
for its Araguaia nickel project ('Araguaia' or 'the Project'),
Brazil's next ferronickel project.
Highlights
-- Formal ANM approval received for Horizonte's final
exploration reports, covering the Mineral Reserves for the planned
28 year mine life at Araguaia;
-- Submission of the Mine Plan containing Araguaia's Economic
Development Plan (Plano de Aproveitamento Econômico - PAE) to ANM;
and,
-- ANM approval of Mine Plan together with approval of the Mine
Construction Licence from the State Environmental Authority (SEMAS)
will grant Horizonte the principal mining and environmental permits
to commence construction of Araguaia.
Horizonte CEO, Jeremy Martin, commented:
"In addition to the Mine Construction Permit filed last month,
the submission of the Mine Plan marks another important permitting
milestone for the Araguaia Project as both advance us towards
receipt of the principal permits necessary to commence mine
construction. We are pleased that ANM has approved the final
exploration reports for all of the Mineral Reserves to cover
Araguaia's initial 28 year mine life, a strong endorsement by
Brazil's National Mining Agency. The permitting steps for
developing a new mine in Brazil follow a stage gate process and the
approval of the final exploration reports have now allowed us to
progress to the Mine Plan stage."
"The Mine Plan submission, as part of Araguaia's ongoing
Feasibility Study, marks an important shift taking the Project from
the exploration stage into the mining development phase and
therefore further de-risking the Project."
"The past three months has seen an increase in nickel prices
amid a backdrop of strengthening fundamentals and increasing
investor interest in the metal, driven in part by a robust
stainless-steel market and the new demand anticipated from the
developing electric vehicle market. This positive market sentiment
aligned with our upcoming project milestones for the next 6 to 12
months should allow us to build value for our shareholders going
forwards."
Mining Permit Stage Gate Process
Upon completion of exploration activities, companies must
prepare and submit a final exploration report to ANM. Horizonte's
final exploration reports submitted earlier in 2017 to ANM have
been formally approved and published in the Brazilian journal
(Diário Oficial da União). The approved reports cover the Mineral
Reserves for the planned 28 year life of mine.
The next key step in the mine licence process is the submission
of a Mine Plan (Plano de Aproveitamento Econômico - PAE). Horizonte
has filed the Mine Plan for Araguaia to ANM, which validates the
mine feed, plant processes, metal refining, production schedule,
ferronickel market fundamentals and the Project's economic
model.
Approval of the Mine Plan from ANM, together with the approval
of the Mine Construction Licence from SEMAS, will provide Horizonte
with the principal permits necessary to commence construction at
Araguaia.
Brazil's National Mining Agency (Agência Nacional de Mineração
or 'ANM') was formally known as the National Department for Mineral
Production (Departamento Nacional de Produção Mineral or
'DNPM').
The Araguaia Nickel Project
Araguaia, which is 100% owned by Horizonte, is located on the
eastern margin of the
State of Pará, north-eastern Brazil, in the Municipal of
Conceição do Araguaia (population of 46,206), south of the main
Carajás Mining District.
The Project has good infrastructure in place including rail,
road, water and power.
Araguaia plans to produce around 14,500 tonnes of contained
nickel in approximately 50,000 tonnes of ferronickel per year from
processing 0.9 million tonnes of ore via the proven and widely
utilized Rotary Kiln Electric Furnace (RKEF) process route.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
* * ENDS * *
For further information visit www.horizonteminerals.com or
contact:
Horizonte Minerals
plc
Jeremy Martin (CEO) +44 (0) 20
/ David Hall (Chairman) 7763 7157
finnCap Ltd (NOMAD
& Joint Broker)
Christopher Raggett/
James Thompson / Anthony +44 (0) 20
Adams / Emily Morris 7220 0500
Shard Capital (Joint +44 (0) 20
Broker) 7186 9952
Damon Heath / Erik
Woolgar
Tavistock (Financial
PR)
Jos Simson / Barney +44 (0) 20
Hayward 7920 3150
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel
development company. The Company is developing Araguaia as the next
major ferronickel mine in Brazil.
Horizonte has a strong shareholder structure including; Teck
Resources Limited 17.9%, Richard Griffiths 14.5%, Lombard Odier
Asset Management (Europe) Limited 11.9%, JP Morgan 8.4%, Canaccord
Genuity Group 6.5%, Glencore 6.4% and City Financial 5.6%.
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, statements with respect to the potential of the
Company's current or future property mineral projects; the success
of exploration and mining activities; cost and timing of future
exploration, production and development; the estimation of Mineral
Resources and Reserves and the ability of the Company to achieve
its goals in respect of growing its Mineral Resources; and the
realization of Mineral Resource and Reserve estimates. 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: 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.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 07, 2017 02:00 ET (07:00 GMT)
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