trending Market Intelligence /marketintelligence/en/news-insights/trending/b0qgrGaJgb6V6L_QXp6_hg2 content esgSubNav
In This List

Horizonte shares jump on US$25M Araguaia ferronickel royalty sale

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Horizonte shares jump on US$25M Araguaia ferronickel royalty sale

Horizonte Minerals PLC secured US$25 million from Orion Mine Finance to advance its Araguaia ferronickel project in Brazil.

London-listed Horizonte's shares were up more than 30% around noon following the Aug. 29 announcement.

Orion will pay the amount upfront in cash to the miner in exchange for a 2.25% royalty on the first 426,429 tonnes of contained nickel sold from Araguaia, covering total nickel production over the life of mine outlined in the stage one feasibility study.

Horizonte CEO Jeremy Martin said the funds will allow the company to advance engineering and early works packages to move towards starting full construction at Araguaia.

Brazil's Pará State Environmental Agency approved the construction license for Araguaia in January, which allows the company to construct the project's rotary kiln electric furnace processing plant and associated infrastructure.