Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) (Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF)) CEO Jeremy Martin tells Proactive Investors the firm has agreed to buy some new and unused ferronickel processing equipment, originally commissioned by Votorantim SA, for its Araguaia ferronickel project in Brazil.
The processing equipment comprises the key components of a conventional rotary kiln electric furnace plant (RKEF), excluding the furnace, and is already located in Brazil.
The equipment was originally commissioned in 2006 as part of a US$250mln ferronickel development at Niquelândia in Goiás state in Brazil, but the project was placed on care and maintenance during construction and was never completed.