공지 • Feb 20
Horizonte Minerals Plc Announces Executive Changes Horizonte Minerals Plc announced that Maryse Bélanger, interim Chief Operating Officer of the Company will step down as COO effective 21 February 2024, following a period of handover to Graham Crew, who is appointed as new interim COO. Mr. Crew was Chief Technical Officer of La Mancha Resource Capital LLP ("La Mancha"), which advises La Mancha Resource Fund SCSp, one of the Company's major shareholders. Mr. Crew has been on a period of secondment to the Company in recent months having stepped down from his day-to-day executive role within La Mancha. He was previously a Non-executive Director at Golden Star Resources Limited before becoming Chief Operating Officer. He has extensive operational experience in Australia, Africa and Asia and was previously Operations Manager for La Mancha Resources Australia, including the development and construction and ramp up of the Mungari processing facility, prior to the divestment of those assets to Evolution Mining. He began his career with Western Mining Corporation at Olympic Dam and Leinster Nickel Operations. He holds a B.Eng (Mining Engineering) from the West Australian School of Mines, is a Member of the Australian institute of Corporate Directors and a Fellow of the Australasian Institute of Mining & Metallurgy. 공지 • Dec 28
Horizonte Minerals Plc announced that it expects to receive £20 million in funding Horizonte Minerals Plc announced a private placement of non-convertible senior secured loan for gross proceeds of $20 million on December 27, 2023. The transaction include the participation from returning lenders La Mancha Investments S.A R.L., Orion Mine Finance, OMF FundIII (Cr) Ltd. and Glencore International AG. The interest payment date is December 31, 2023. 공지 • Dec 19
Horizonte Minerals plc Announces Board Appointments Horizonte Minerals Plc announced the appointments of Paul Smith as Non-Executive Director and Chair of the Board of the Company and of Karim Nasr as an Executive Director of the Company. As previously announced on 27 November 2023, the Board proposed the appointment of Paul Smith as Non-Executive Director and Chair, succeeding Vincent Benoit who had agreed to act as interim Chair and who will now continue his role as a Non-Executive Director, in addition to theappointed Mr. Nasras an Executive Director. Mr. Smith and Mr. Nasr's appointments weresubject to receipt of the usual director certifications in accordance with the AIM Rules. The Company's Nominated Advisor, Peel Hunt, have now completed the due diligence processes, and Mr. Smith's and Mr. Nasr's appointmentshave been confirmed by the Board, effective immediately. Following this announcement, Horizonte's Board will be comprised of five members, of which the following three members are considered independent under the QCA Corporate Governance Code: Paul Smith, Gillian Davidson and John MacKenzie. Mr. Nasr has also been appointed as interim CEO to lead the financing and restructuring process for the Company and to work with the Board to appoint a new senior leadership team. In the process, Mr. Nasr temporarily stepped down from his day-to-day executive role within La Mancha Resource Capital LLP to devote himself to Horizonte, agreeing to a Conflict of Interest Protocol, a summary of which is set out below. 공지 • Oct 24
Horizonte Minerals plc Provides Updates on Construction HORIZONTE MINERALS provided Q3-2023 CON Construction progress continues to be made at Araguaia. Strong safety performance, no lost time injuries with close to 5.1 million hours worked. Rotary Kiln sections have been installed on the support piers. The furnace shell is complete with roof installation underway. All critical equipment packages have been contracted and are either on site or en route to site. As of 30 September, 138,000 tonnes of ore averaging 1.92% Ni has been stockpiled. Commissioning of the 126 km (230kV) power transmission line underway. USD429 million has been spent at Araguaia as of 30 September 2023. Reta Engenharia's detailed capital cost and schedule analysis is on-going, with the updated estimate being assessed to meet the requirements of AACEI Class 1, improved from the estimate utilised in September 2022. Principal capital changes are linked to the following: Civil works: the development of engineering maturity and identification of new scopes to the project resulted in increases in civil quantities (concrete, rebar and formwork) and the corresponding rise in the installation costs. These changes relate to the water storage reservoir, the water abstraction pipeline, selected major equipment packages and equipment interfaces. More detailed information will be given once the final engineering study is complete by mid Fourth Quarter-2023. Project FINANCING ACTIVITIES. Araguaia line 2: FEASIBILITY Study EXPECTED in Fourth Quarter 2023. The results from the Feasibility Study on Araguaia Line 2 remain on track to be published in mid fourth quarter-2023. Forward-looking information includes, but is not limited to, 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 for delivery of the equipment to be purchased, 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. 공지 • Oct 05
Horizonte Minerals Plc Provides Update on Araguaia Nickel Project Construction Horizonte Minerals Plc announces that it has made good progress in completing the final detailed engineering and construction design for Line 1 of its 100%-owned Araguaia Nickel Project ("Araguaia" or "the Project"). This work, along with a comprehensive cost review, has resulted in changes to the design and execution scope, which are expected to increase the overall capital expenditure requirement by at least 35% (of current capex budget) and delay first production to Q3-2024. Given the progress made to date with construction, the value of the Araguaia Line 1 Project and the upcoming delivery of the Feasibility Study on Araguaia Line 2, the Company continues to have strong support from its major partners. The Company is working on a plan with its various financial institutions together with the cornerstone shareholdersfor a financing solution to complete construction. Construction work on site continues to progress well with all key engineering drawings issued for construction. Ore stockpiling activities commenced last quarter, and ROM build-up is progressing to schedule. The rotary dryer is now in place, with all shells aligned for final welding. Construction of the 126km, 230kV transmission line is well advanced, with all pylons erected and 118km of conductor cable installed. Construction of the water storage reservoir is also well advanced, with the initial sections of the water abstraction pipeline positioned and foundations poured for the river abstraction pump station. To de-risk the operation, the final detailed engineering work has added additional scope items linked to the major equipment packages, made several enhanced design changes from the original engineering study (including changes to the water abstraction pipeline design and water storage reservoir), and has identified the requirement for additional civil works and quantities. Additionally, changes have been required with selected suppliers who have not been able to deliver to the project timeframe, which has added further cost pressures. Accordingly, the Company engaged Reta Engenharia to undertake an independent review of the remaining capital expenditure and schedule, incorporating the change in scope, material and quantity variations, increased project duration to first metal and associated costs, and additional working capital requirements. The Company has also undertaken a detailed review of the ramp up and operational costs. The Company expects to publish an update by mid Q4-2023 once this review is complete. The results from the Feasibility Study on Araguaia Line 2 remain on track to be published in Q4-2023. The combined production of Araguaia Line 1 and 2 is expected to be 29,000 tonnes per annum. 공지 • Sep 12
Horizonte Minerals plc Announces Demise of David Hall, Co-Founder and Former Chairman Horizonte Minerals Plc announced the demise of David Hall, the Company's co-founder and former Chairman. The Board extends its deepest condolences to the Hall family and would like to thank David for his leadership and the integral part he played in the establishment, development, and growth of Horizonte Minerals. The company will carry on with his vision and honour his legacy. David began his career studying Geology at Trinity College Dublin and during his early career spent time in Africa, Europe and the Middle East. He went on to become AngloGold's South American Exploration Manager before establishing numerous junior exploration and development companies, including Horizonte Minerals. 공지 • Aug 25
Horizonte Minerals plc Appoints Fernando Marino as its Operations Director Horizonte Minerals Plc strengthen its management team with the appointment of Mr. Fernando Marino as its Operations Director for the Araguaia Nickel Project ("Araguaia" or "the Project"). Fernando has over 35 years of experience in the resources industry, with a strong track record of ramping up and operating mining operations in Brazil. He worked across a range of mining operations for Vale in Brazil, including as Director of Operations at Onça Puma, a ferronickel operation in Para state located approximately 250 km from Araguaia. During his time at Onça Puma, he managed the initial ramp-up phase and subsequently implemented improvements to the original furnace design in conjunction with Hatch (Araguaia's furnace vendor). Additionally, he led a comprehensive review of the operational, maintenance and safety procedures, resulting in a record annual production of 25,000 tonnes of nickel, without any lost-time accidents. Prior to joining Horizonte, Fernando was Executive Manager at Vale's Base Metals South Atlantic operations, and previously managed the Salobo copper mine and plant. 공지 • Aug 24
Horizonte Minerals plc Appoints Fernando Marino as Its Operations Director for the Araguaia Nickel Project Horizonte Minerals Plc announced the appointment of Mr. Fernando Marino as its Operations Director for the Araguaia Nickel Project ("Araguaia" or "the Project"). Fernando has over 35 years of experience in the resources industry, with a strong track record of ramping up and operating mining operations in Brazil. He worked across a range of mining operations for Vale in Brazil, including as Director of Operations at Onça Puma, a ferronickel operation in Para state located approximately 250 km from Araguaia. During his time at Onça Puma, he managed the initial ramp-up phase and subsequently implemented improvements to the original furnace design in conjunction with Hatch (Araguaia's furnace vendor). Additionally, he led a comprehensive review of the operational, maintenance and safety procedures, resulting in a record annual production of 25,000 tonnes of nickel, without any lost-time accidents. Prior to joining Horizonte, Fernando was Executive Manager at Vale's Base Metals South Atlantic operations, and previously managed the Salobo copper mine and plant. 공지 • Aug 03
Horizonte Minerals Plc Announces Second Quarter of 2023 Araguaia Construction Update Horizonte Minerals Plc reported that it is continuing to make good progress on the construction of its 100%-owned Araguaia Nickel Project Line 1 (the Project). The company is targeting first metal in first quarter of 2024. As of 30 June 2023, approximately 65% of the overall Araguaia Line 1 construction programme has been completed, physical site construction was 53% advanced with ore stockpiling having now commenced following the issuance of the mining permit during the quarter. Additionally, a major milestone in the quarter was the safe delivery to site of the rotary kiln, a key long lead item. The 11 steel sections will now be aligned and welded together before being lifted into place for final installation on the kiln piers. Off-site, construction of the 126km, 230kV transmission line is well advanced with over 90% of the pylons erected and 42 km of conductor cable installed. Construction of the water storage reservoir has commenced. As of 30 June 2023, a total of USD 329 million has been spent on the Araguaia construction out of the budgeted capital requirement of USD 537 million. As at quarter-end, the company had total liquidity and funding sources of USD 344 million. The FS for Horizonte's 100% owned Vermelho project in Brazil, is currently on-going and is expected to be published in 2024. Vermelho has a high-grade scalable resource with a long mine life. Given Vermelho's geological characteristics, the ore has the ability to be processed either through High-Pressure Acid Leach ("HPAL") or Rotary Kiln Electric furnace ("RKEF") technologies. As part of the study and driven by the evolving market dynamics, Horizonte is evaluating the optimal final nickel product that will supply the critical metals market. 공지 • Jul 07
Horizonte Minerals plc Receives Mining Approval for Araguaia Horizonte Minerals plc announced that it has received its mining approval permit for its 100%-owned Araguaia Nickel Project in Brazil. The approval was issued by the Para State Secretariat for Environment and Sustainability ("SEMAS") and enables Horizonte to commence its mining activities, with initial work underway to establish ore stockpiles on the ROM pad ahead of the commissioning phase. The approval enables the Company to mine, stockpile, and categorise ore, optimising the consistency of the feedstock, a process required to mitigate risk during commissioning which is a key part of the mine-to-mill strategy. Over the course of the next six months, stockpiles will be established, with sufficient ore to feed the plant for the subsequent six months. The Pequizeiro Pit, located 750 metres from the plant site, will be the primary source of ore to Araguaia, supplying the first two years of the Project's mine life and contributing over 50% of the mine production for the first ten years. 공지 • Jun 30
Horizonte Minerals plc Announces Construction Milestone At Its 100%-Owned Araguaia Nickel Project in Brazil Horizonte Minerals Plc announced that a construction milestone has been achieved at its 100%-owned Araguaia Nickel Project in Brazil, following the successful delivery to site of the rotary kiln, a key long lead item. The rotary kiln is a key part of the process flow sheet at Araguaia. Its safe delivery to site is therefore an important milestone in the construction schedule given it is one of the key long lead packages. The FLSmidth supplied rotary kiln was designed and built according to the standards which will allow Araguaia to meet its low cost and low environmental impact targets. The 11 individual sections of the kiln will now be welded together over the course of the next month, before the sections are lifted into place on top of the kiln piers for final welding and alignment. 공지 • Jan 25
Horizonte Minerals plc Submits Environmental and Social Impact Assessment for Its Vermelho Nickel Cobalt Project Horizonte Minerals Plc announced that it has advanced the permitting process for its 100%-owned Vermelho Nickel Cobalt Project (‘Vermelho’ or ‘the Project’), located 160km from the Company's construction-stageAraguaia Nickel Project (‘Araguaia’),in parallel with ongoing work on the Feasibility Study which is expected to be published in first half of 2024. The Company has submitted the Environmental and Social Impact Assessment (‘EIA’) and the associated Relatório de Impacto Ambiental (‘RIMA’) with the Pará State Secretariat for Environment and Sustainability (‘SEMAS’) and it is targeting the approval of the EIA/RIMA and subsequent granting of a Preliminary Licence (‘LP’) in Mid-2024. The granting of the LP is the first in a three-stage environmental Licensing process to develop a mine in Brazil. Through the granting of the LP, SEMAS confirms that the Project is acceptable from an environmental and social perspective. Over the course of an 18-month period, Horizonte, in conjunction with Rambol Group (‘Rambol’) (a leading global environmental and social consultancy firm) together with Integratio (a leading Brazilian social consultancy firm) undertook the collection and analysis of the baseline social and environmental data specified by SEMAS, to document the current physical, biological and social settings at Vermelho. This process was enhanced through leveraging the extensive database of historical environmental and social data previously collected at Vermelho by Vale S. A (‘Vale’), the previous owner of the Project. Horizonte acquired Vermelho from Vale in 2017, after Vale had successfully attained an LP for the project and subsequently made a positive construction decision in 2005.