Horizonte Minerals (LON: HZM) has awarded the Environmental & Social Impact Assessment (ESIA) contract for the Company's 100% owned nickel-cobalt Vermelho project to global consultancy firm Ramboll.
Ramboll, which has offices in Belo Horizonte, has previously worked with Horizonte Minerals. It provides impact assessment services based on commercial understanding and technical rigour, Horizonte said.
The ESIA is an essential part of the permitting process for Vermelho and expected to lead to the award of the Preliminary Licence. The technical agency responsible for reviewing the Environmental Impact Study and Report will be the Pará State Secretariat for Environment and Sustainability, SEMAS.
Horizonte will optimise the engineering for Vermelho's dry-stack residue storage facility option.
The integrated ESIA will reflect the current physical, biological and social settings, including water availability and quality, an air and noise study, soil quality, flora and fauna inventory, socio-economic considerations, community health and safety, resettlement and cultural heritage.
“The appointment of Ramboll highlights our commitment to the highest standards of sustainability practices as we work to develop Vermelho,” said Horizonte CEO, Jeremy Martin.
“Vermelho is a tier-one nickel-cobalt project that will come online to supply the rapidly growing EV battery market. The planned completion of Araguaia financing will enable Horizonte to expedite the development of Vermelho through feasibility and permitting,” he added.
Shares of Horizonte Minerals are up 1.25% so far today, priced at 8.10p.
Should you invest in Horizonte Minerals shares?
Horizonte Minerals shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket 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