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Horizonte Minerals' feasibilty work on course

Last updated: 07:22 14 Nov 2013 GMT, First published: 08:22 14 Nov 2013 GMT

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Nickel group Horizonte Minerals (LON:HZM) has completed the bulk of the environmental and social baseline study at its Araguaia project in Brazil.

The company is on course to complete the environmental work by the end of this year and deliver the pre-feasibility study on Araguaia in the first quarter of 2014.

A plant site has been selected and preliminary plant mass and energy balances completed, the company added.

Araguaia is Horizonte’s main focus  and the company said its gold joint venture with AngloGold at Falcao in Brazil has been terminated. AngloGold is reducing its greenfield exploration in Brazil, while there has been limited exploration success at Falcao.

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