Horizonte Minerals (LON: HZM) announced on Wednesday that it has been awarded the construction licence package to develop the power line for its 100% owned Araguaia Ferronickel Project in Brazil.
The package includes the preliminary licence, the construction licence, and the related fauna and flora licences granted by the Pará State Environmental Agency, Secretaria de Meio Ambiente e Sustentabilidade.
The license package permits implementing a 120km, 230KV power line and respective substation, which will connect Araguaia to the national power grid and cover the projects full power requirement.
“The award of the power licence package is a critical step in our path to production, and further de-risks the Project by securing the full power requirement for commercial operation,” stated Horizonte CEO, Jeremy Martin.
“The power supply will be hydroelectric which is a key factor in the ability to produce a low CO2 per tonne of product, in line with other Brazilian ferronickel producers, placing Araguaia in the lowest half of carbon emitters globally for nickel production,” added Martin.
Horizonte’s shares are trading lower on Thursday, priced at 7.86p, down 0.63%.
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