Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF)’s Araguaia nickel project in Brazil has been approved as a Strategic Minerals Project by the Brazilian government.
This approval will ensure that the Araguaia project is treated on a priority basis by the various government agencies engaged in the construction and operation of the mine, through the support of an inter-ministerial committee.
"The selection of the Araguaia nickel project as a Strategic Minerals Project further demonstrates the global importance of nickel as a critical metal of the future as well as the project's strategic importance to Brazil,” said Jeremy Martin, chief executive of Horizonte Minerals.
“We recognise the positive steps the Brazilian government are taking to help expedite these strategically important projects and we look forward to working closely with them as we advance Araguaia towards production."
The Strategic Minerals Policy is aimed at prioritising the development of mineral projects that are deemed strategic to Brazil's growth. It forms part of the Investment Partnership Programme (PPI - Programa de Parcerias de Investimento), a government body dedicated to expanding and accelerating the implementation of projects with the participation of the private sector in Brazil.
Projects are selected on a case-by-case basis by the inter-ministerial Committee for the Analysis of Strategic Mineral Projects, formed by representatives from PPI, as well as from other governmental agencies such as the Ministry of Mines and Energy, the Ministry of Science, Technology and Innovations, the Institutional Security Office and the Special Secretariat for Strategic Affairs of the Presidency of the Republic.