Banks arranging $325m for Horizonte’s Brazil nickel project – shares jump

MINING.COM | Horizonte Minerals (TSX: HZM) announced on Wednesday that it has executed a mandate to arrange a senior secured project finance facility of up to $325 million to fund the construction and development of its flagship Araguaia nickel project in Para state in Brazil.

A syndicate of five international financial institutions, including BNP Paribas, ING Capital LLC, Mizuho Bank, Natixis, and Société Générale will act as the Mandated Lead Arrangers.

Araguaia will be the first of Horizonte’s projects to move to the construction phase. A feasibility study describes an initial production phase where about 900,000 t/y of ore is treated in a rotary kiln electric furnace (RKEF) to produce about 14,500 t/y of nickel contained in 52,000 t/y of ferronickel.

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