Araguaia Nickel Project is a Tier 1 mining project with a high-grade scalable resource. The area has a well-developed infrastructure, including roads, rail, and hydroelectric power as a result of the sustained mining activity in Carajás.
On April 15, 2024, Horizonte Minerals Plc announced that, after a period of discussions to restructure the group’s debt in conjunction with seeking a fully funded solution for its 100%-owned Araguaia Nickel Project and actively engaging existing and new potential investors, the Company has been unable to secure interest in the full financing needed to complete the Project or in a group acquiring the Project. Horizonte must now consider alternative options for the Company’s subsidiaries in the interest of its secured creditors, which may include raising financing at the subsidiary level, a sale of the Project whilst in care and maintenance, the liquidation of the assets of the Project, or other options available under Brazilian laws. |