https://www.miningweekly.com
Construction|Export|Financial|PROJECT|Service|Equipment
Construction|Export|Financial|PROJECT|Service|Equipment
construction|export|financial|project|service|equipment

Horizonte secures export credit agency approval for Araguaia

13th September 2021

By: Creamer Media Reporter

     

Font size: - +

Brazil-focused nickel company Horizonte Minerals has received formal credit and board approval from two export credit agencies (ECAs) for $146.2-million of the senior secured project financing facility to part fund construction of its Araguaia ferronickel project.

The ECAs are Denmark’s AKF and Finland’s Finnvera and their guarantee for key equipment and service provider contracts form tranche A of the senior debt facility for the project.

Tranche B is expected to be provided by a syndicate of international financial institutions.

The senior debt facility is set to provide a significant portion of the funding required for construction of the project. Horizonte CEO Jeremy Martin said on Monday that the company expected to announce credit approval from the balance of senior lenders during the remainder of the third quarter.

“We are now reaching the culmination of this complex funding process which will see us secure the initial capex required to develop Araguaia, our 100%-owned, tier 1 ferronickel project. With construction scheduled to commence on completion of funding this is a very exciting time for Horizonte."

The feasibility study for the Araguaia project describes an initial production phase where about 900 000 t/y of ore is treated in a rotary kiln electric furnace (RKEF) to produce about 14 500 t/y of nickel contained in 52 000 t/y of ferronickel.

The study includes an option to double production to 29 000 t/y of contained nickel by the addition of a second RKEF in the third year of the project.

Edited by Creamer Media Reporter

Comments

Latest Multimedia

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 2 hours 12 minutes ago By: Martin Creamer

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.135 0.174s - 114pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: