trending Market Intelligence /marketintelligence/en/news-insights/trending/yW5qAv-SbfmG5UtNeKfcoA2 content esgSubNav
In This List

Horizonte to buy Vale's Vermelho nickel-cobalt project for US$8M

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Horizonte to buy Vale's Vermelho nickel-cobalt project for US$8M

Horizonte Minerals Plc said Dec. 19 that it struck a deal with Vale SA to acquire the Vermelho nickel-cobalt project in Brazil for US$8 million.

The company also acquired the data from a feasibility study Vale conducted and is granting a 1% net smelter royalty on nickel produced in the first 10 years of production up to a maximum of 15,000 tonnes per annum, which will then reduce to 0.5% NSR.

Vale approved Vermelho in 2005 with nameplate annual production capacity of 46,000 tonnes of nickel and 2,500 tonnes of cobalt.

Meanwhile, Horizonte intends to raise up to £8.5 million through separate share placements at 3.5 pence apiece on the London Stock Exchange's AIM and the Toronto Stock Exchange to fund the acquisition.