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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%.
Should you invest in Horizonte Minerals shares? Horizonte Minerals shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Horizonte Minerals shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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