Horizonte Minerals confident on nickel price

Horizonte Minerals PLC has begun work on the pre-achievability ponder for Vermelho, its second real nickel venture in Brazil.

Advisor Snowden has been contracted to create the mining timetables and go about as by and large examination chief for the nickel/cobalt store, while Aussie aggregate Simulus will give nitty gritty costings.

Araguaia is Horizonte's leader venture in Brazil and discussions are continuous about an account bundle to construct the mine, said Jeremy Martin, CEO.

A plausibility think about in December showed free income of US$1.6bn over a 28-year life of mine dependent on a nickel cost of US$14,000 per ton. Spot costs at present are US$12,500 per ton, yet Martin says supplies of the metal have tumbled to their most minimal in five years even before the mass appropriation of electric vehicles.

Nickel is a key segment of the batteries used to control EVs and market expectations are at the nickel cost to ascend to in any event US$16,500 per ton by 2021. "Horizonte holds two Tier 1 resources as far as size and grade; the improvement prepared Araguaia ferronickel venture and the Vermelho nickel-cobalt venture.”Our portfolio is in this manner all around set when request in hardened steel and electric vehicle markets is expanding and surpassing new nickel supply coming on the web." In light of the ongoing lethal dam rushes in Brazil, Horizonte included: "note that Araguaia does not create tailings and does not have a tailings dam so isn't influenced by the ongoing prohibition on new upstream tailings dams in Brazil."

• [Editor:janita]