Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) said mining and commodity trading giant Glencore PLC (LSE:GLEN) now owns 9.8% of its shares.
In a routine statement, Horizonte said Glencore crossed the major shareholding threshold on Tuesday.
It did not provide any further details.
Glencore had a 4.29% stake in Horizonte as of the end of 2021, according to Horizonte's website.
Horizonte is moving towards the production phase of its Araguaia and Vermelho large nickel developments in Brazil. It bought the Araguaia ferro-nickel project from Glencore in 2015 for US$8mln in what it called a “game-changing” transaction.