Proactive Investors - Run By Investors For Investors

Horizonte Minerals gets double boost from metal tests at second project

Samples from Vermelho showed a ferronickel grade of 31.8% nickel
steel
Stainless steel demand is boosting sales of nickel

Tests on ore from Horizonte Minerals PLC’s (LON:HZM) Vermelho nickel project in Brazil have confirmed the quality is high enough for stainless steel production and potentially for electric vehicle batteries.

Metallurgy test work on saprolite samples indicated they can be processed using a rotary kiln plant, which is the type being built by Horizonte at its neighbouring Araguaia nickel deposit.

Samples from Vermelho showed a ferronickel grade of 31.8% nickel.

Appropriate quality

Jeremy Martin, chief executive, said that is enough for a high grade, commercial specification ferronickel from the saprolite and transition ore at Vermelho.

In addition, tests on limonite samples from Vermelho showed a nickel of high enough quality for use in batteries for electric vehicles.

Limonite and saprolite are the two types of Lateritic nickel ore deposits, which are large volume deposits normally close to the surface.

A pre-feasibility study is underway at Vermelho and will incorporate results of the tests on both types of sample ore.

Martin added that talks to finance Araguaia are ongoing and being helped by nickel consumption growing by around 4 to 5% per year helped by stainless steel demand.

“This robust demand story for nickel positions Horizonte well, owning 100% of two Tier 1 nickel projects, within trucking distance of each other with the potential to produce 40,000 to 50,000 tonnes per year of nickel.“

View full HZM profile View Profile

Horizonte Minerals PLC Timeline

Related Articles

Araguaia mine
January 18 2019
Broker share price targets range from 8p to 21p per share
1542615822_nickel.jpg
November 19 2018
Amur has already delineated a substantial resource at Kun-Manie
1542052159_handshake--bus.jpg
November 12 2018
Tantalex is focused on the exploration and development of lithium, cobalt, tantalum properties in Africa

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use