Horizonte Announces Community Development Agreement with Leading National Industrial Training Provider for the Araguaia Project
Horizonte Minerals Plc ("Horizonte" or the "Company") (AIM:HZM)(TSX:HZM), is developing two Tier 1 nickel projects in Brazil and is pleased to announce the signing of a milestone agreement between the Araguaia Nickel Project ("Araguaia") and Brazil's leading national industrial training provider Serviço Nacional de Aprendizagem Industrial ("SENAI") for host community skills training. Under this agreement, a key component of Araguaia's Local Content Initiative, the partners will train and develop local community members in core skills required during Araguaia's construction and operational phases
CEO of Horizonte, Jeremy Martin commented:
"Local content - both local employment and local procurement - is a critical contribution that mines make to community economic development. In partnership with SENAI, it is our objective to up-skill local community members in industry-certified, market-ready, transferable industrial skills, such as welding and electro-mechanical construction. With these enhanced skill sets, host community members will have greater opportunities to participate in the direct and indirect mine workforce; the potential to supply goods and services to mining and broader industry through locally operated companies; and, most importantly, to strengthen the creation of vibrant regional communities."
Non-Executive Director of Horizonte, Dr Gillian Davidson commented:
"I am delighted that to enhance the outreach and impact of this initiative, the Company has set targets for program inclusion, diversity and equality. Participation in the program by local women and youth is strongly supported, to ensure that Horizonte, Araguaia and mine host communities benefit from the unique perspectives, diverse skills and socio-economic development that the empowerment of women and younger people brings."
The partnership program is being delivered as a key element of the Company's wider Araguaia Local Content Initiative.
Under the initiative, the Company is working with the Brazilian National Employment System to register and create a database of local community members interested in participation in the Araguaia workforce. Existing residents of Conceição do Araguaia and Floresta do Araguaia communities will be prioritised for training and development opportunities.
The partnership with SENAI will fully fund over 390 training courses, targeting specific industrial skills development such as welding, as well as broader multi-industry skill sets such as electrical construction, enhancing opportunities for local participation in Araguaia's construction and operational phases as well as participation in other regional industry sector supply chains.
SENAI have partnered with UEPA, which will provide facilities for many of the SENAI training courses.
The wider initiative will also incorporate the development of a local supply chain program, aimed at deepening the capacity of existing suppliers and creating new business opportunities in the region.
In another partnership with SENAI, a study has been completed on the potential uses of slag (a benign ferronickel by-product), highlighting its potential for use in construction and road materials. Elsewhere, slag is widely used as a concrete binder. Horizonte intends to support the local community to advance these beneficial reuse opportunities.
For further information, visitwww.horizonteminerals.comor contact:
Horizonte Minerals plc Jeremy Martin (CEO)
Peel Hunt LLP (Nominated Adviser & Joint Broker) Ross Allister David McKeown
BMO (Joint Broker) Thomas Rider Pascal Lussier Duquette Andrew Cameron
Tavistock (Financial PR) Emily Moss Cath Drummond
Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100%-owned, tier one projects in Pará state, Brazil; the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are large scale, high-grade, low-cost, low-carbon and scalable. Araguaia is fully funded and in construction. The project will produce 29,000 tonnes of nickel per year to supply the stainless steel market. Vermelho is at feasibility study stage and will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the EV battery market. Horizonte's combined near-term production profile of over 50,000 tonnes of nickel per year positions the Company as a globally significant nickel producer. Horizonte is developing a new nickel district in Brazil that will benefit from established infrastructure, including hydroelectric power available in the Carajás Mining District.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the acquisition of equipment as described herein, statements with respect to the potential of the Company's current or future property mineral projects; the ability of the Company to complete a positive feasibility study regarding the second RKEF line at Araguaia on time, or at all, the success of exploration and mining activities; cost and timing of future exploration, production and development; the costs and timing for delivery of the equipment to be purchased as described herein, the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the realization of mineral resource and reserve estimates and achieving production in accordance with the Company's potential production profile or at all. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the acquisition of equipment contemplated herein, on time or at all, the ability of the Company to complete a positive feasibility study regarding the implementation of a second RKEF line at Araguaia on the timeline contemplated or at all, exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates, together with the risks identified and disclosed in the Company's disclosure record available on the Company's profile on SEDAR at www.sedar.com, including without limitation, the annual information for of the Company for the year ended December 31, 2020, the Araguaia Report and the Vermelho Report. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
News Provided by ACCESSWIRE via QuoteMedia
Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to present a summary of activities from the June 2022 quarter.
The DFS progressed well throughout the quarter and remains on track for completion late Q3 / early Q4 in the current calendar year. With lead engineers Hatch, QPM has awarded or is in the process of awarding basic engineering design work to key equipment suppliers, with the view of progressing towards supply agreements containing performance guarantees for construction. This early involvement of key suppliers is a major part of QPM’s funding strategy for the TECH Project.
During the quarter, QPM also made good progress on further testwork which is supporting the DFS and design work of the various equipment suppliers.
In the previous quarter, QPM had commenced thermal decomposition pilot construction to confirm the selection of a fluid bed roaster for the thermal decomposition process. During the quarter, QPM completed the construction and in July completed the pilot program with the successful production of magnesia (MgO) from magnesium nitrate. The original DNi ProcessTM flowsheet considered the use of kilns to undertake thermal decomposition, however the specified unit would unlikely have been commercial given its relatively small size (requiring 60 of the largest units built). Only 1 -2 fluidised bed reactors are required. This pilot work confirms QPM’s equipment choice selection of fluid bed roaster for commercial scale.
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This article includes content from Queensland Pacific Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rafaella Resources Limited (ASX:RFR) (‘Rafaella’ or the ‘Company’) is pleased to provide its Appendix 5B cash flow statement for the quarter ended 30 June 2022, along with the following operational summary.
Santa Comba tungsten and tin project
San Finx tin and tungsten project
“The quarter saw considerable advancement in both Spanish tin and tungsten projects. The Advanced PFS for the open pit at Santa Comba demonstrated the economic attractiveness of the open pit as a standalone development. What is important to note is that the open pit study only included a small proportion of the total potential resource and does not include the permitted underground high-grade mine. The study therefore strongly supports the development of Santa Comba as an integrated operation, offering considerable upside through organic expansion. The news in July of the proposal from Aguas de Galicia to approve the water discharge permit at the recently acquired San Finx project comes earlier than anticipated and unlocks the development of this near-term producing underground mine. Finally, the creation of the Belleterre-Angliers Project in Quebec provides the Company with a highly prospective exploration asset with exposure to key battery metals such as PGMs (necessary for the development of green hydrogen) as well as nickel and copper, mainstays of the move to renewables and the electrification of vehicles in a tier 1 mining jurisdiction. The recently completed private placement will allow the Company to move the Spanish assets towards debt financing and advance the exploration activities in Canada.”
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This article includes content from Rafaella Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Latest drilling results to further enhance Jaguar Resource model, with next Resource update on-track for September Quarter; Definitive Feasibility Study progressing well
Centaurus Metals Limited (ASX:CTM) is pleased to present the company's June 2022 quarterly activities report.
The Jaguar Nickel Sulphide Project, located in the world-class Carajás Mineral Province of northern Brazil (Figure 1), was acquired from global mining giant, Vale S.A. (“Vale”) in April 2020.
Figure 1: Jaguar Nickel Sulphide Project Location Map
Resource in-fill, extensional and step-out drilling continued at the Jaguar Project throughout the reporting period, with the drilling results to feed into the next MRE update scheduled for the end of Q3 2022.
The December 2021 MRE comprised 80.6Mt @ 0.91% Ni for 730,700t of contained nickel, with an Indicated component of the Resource being 43.4Mt @ 0.92% Ni for 397,000t of contained nickel, representing 54% of the Global MRE.
The focus of drilling during the first half of 2022 was resource development in-fill drilling at all the Jaguar Deposits. In-fill drilling is designed to upgrade all resources within a constrained US$22,000/t nickel price pit shell limit into the Measured and Indicated categories. The Company is targeting more than 500,000t of contained nickel in the Measured and Indicated categories of the next MRE based on the extensive in-fill drill currently being undertaken and the MRE already in place.
The MRE planned for the end of Q3 2022 will underpin the Jaguar DFS and maiden Ore Reserve estimate. The current resource definition in-fill drilling is important as it will ensure that as much of the in-pit Resource as possible will be upgraded to the higher-confidence Indicated category, which in turn increases the potential production target and anticipated conversion of Resource to Ore Reserves.
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This article includes content from Centurus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Click here to read the previous nickel price update.
After reaching unprecedented levels that prompted the suspension of trading at the London Metal Exchange in the first quarter, nickel prices declined to now trade at around US$22,000 per tonne.
Nickel surpassed the US$100,000 per tonne mark in early March, jumping over 250 percent in just two days. But the base metal fell significantly since then.
What else happened in the second quarter of this year in the nickel space? Read on to learn about the main trends in the nickel market in Q2, including the main supply and demand dynamics and what market participants are expecting for the rest of the year.
The first quarter of the year saw the nickel market meltdown after prices reached historic highs. The chaos in trading was attributed to the massive short position held by Chinese tycoon Xiang Guangda, who controls the world’s largest nickel producer, Tsingshan Holding Group, and was facing billions of dollars in mark-to-market losses.
The 145-year-old exchange resumed trading in mid-March, with prices retreating to trade at around US$28,000.
“Given the developments for nickel price action over Q1, with the LME having to halt trading from 8th to 16th March and the falling volumes of trade since then, it is fair to say the nickel price has largely been disconnected to its underlying fundamentals,” Natalie Scott-Gray of StoneX told the Investing News Network (INN).
Nickel's price performance in Q2. Chart via London Metal Exchange.
Despite the fallback, nickel prices remained generally elevated in April, thanks to a tight supply backdrop.
“With Russia being the world’s third largest producer of nickel, the war in Ukraine and associated international sanctions kept global supply and inventories tight, thus boding well for prices,” a June FocusEconomics report reads.
But with global economic recession fears increasing, nickel prices fell throughout the second quarter, hitting three consecutive monthly losses.
“Although the LME nickel 3-month price has been trending lower since nickel trading on the LME restarted mid-March, the price is still up 7.9 percent since end-2021, finding support from the continued drawdown in class 1 nickel stocks at exchange warehouses,” Jason Sappor of S&P Global Commodity Insights said in a report.
Speaking with INN about the nickel market in the second quarter, Sean Mulshaw of Wood Mackenzie said he expected prices to retreat a little faster than they have.
“We are now broadly back where we started, pre-LME trading halt,” he said. “We expect a downward trend in nickel prices over the rest of this year and given where we are now we could be heading below US$22,000 in Q3.”
Nickel prices ended the quarter trading at US$22,698, declining more than 31 percent since the beginning of April.
During the first three months of the year, the market saw a downgrade to demand within China for stainless steel and EVs, with any further extension of COVID lockdown measures imposed earlier in the year expected to exacerbate the situation.
Commenting on demand from China in the second quarter, Mulshaw said it was weaker than expected on the back of the COVID outbreak. But even now, as restrictions are easing, the rebound is not as strong as forecast.
“Stainless steel production rates have been falling since March and this will continue at least through July,” he said. “Generally, with nickel prices falling, and therefore stainless prices, stainless customers have become cautious, not wanting to buy product that then loses value. So orders have dropped.”
Mulshaw added that the third quarter tends to be slower for demand on the back of summer vacation and maintenance breaks, therefore demand is not expected to pick up before September.
Meanwhile, StoneX has downgraded the demand outlook for stainless steel due to individual economic slowdowns driven by various factors, including tighter monetary policy in the west, high energy prices and a slow start in China in H1.
“(That said,) we expect demand from the EV sector to jump by about 30 percent this year, driven by policy targets and further supported by an extension to subsidies in China,” Scott-Gray said.
On the supply side, StoneX has modestly increased its forecast, with record levels of nickel pig iron (NPI) production in Indonesia and new record levels of ex-NPI production within Indonesia, which is being lifted by the expansion of NPI to nickel matte and continued growth in high pressure acid leach (HPAL) production.
“Although we do factor in a potential downside risk coming from Russian production, giving the ongoing war,” Scott-Gray said. StoneX continues to forecast that the likelihood of the European Union placing an export ban on Russian nickel is low.
Supply has been increasing in H1 and this will continue in H2, predominantly through the increase in NPI and nickel intermediates production in Indonesia.
“Indonesia is essentially supplying the nickel units China needs for both stainless, as nickel pig iron, and now batteries, as matte and MHP for nickel sulfate production.” Mushlaw said. “(That means) demand for other nickel that China has traditionally depended on, like class 1 and “western” ferronickel, is falling.”
This increase in supply will see the global nickel market be in surplus this year and next, which will put downward pressure on prices, according to data from Woodmac.
Similarly, as it stands, StoneX has the nickel market in a modest surplus for this year at about 60,000 tonnes.
“Although any disruption to the class I side could tilt the market into a deficit, which would support higher prices,” Scott-Gray said.
Looking ahead, economic uncertainty, inflation and higher interest rates will reduce demand and prices, heightened by the Russia-Ukraine war and higher energy costs.
Russia is responsible for 9 percent of global nickel production and 15 percent of class I nickel supply — of which Europe has a very high reliance.
“The ongoing potential for sanctions against Russian nickel producer, Norilsk, and the possibility that LME nickel stocks could start to increase,” are factors to keep an eye out for in the next quarter, according to Mulshaw.
He also added that investors should keep watch out for the balance in production between NPI and matte in Indonesia – how many NPI lines are being converted to matte – because this dictates the balance of nickel going to China’s stainless and China’s batteries sectors.
For Scott-Gray, further sanctions over the Russia-Ukraine war is a catalyst to keep an eye out for.
“Although we continue to forecast that the chance of an outright sanction being placed on nickel exports from Russia by the EU remains low,” she said.
There’s also the potential for a 2 percent export tax being placed on Indonesia exports of NPI.
“While this wouldn’t necessarily change the overall supply picture in volume terms, it would negatively impact China’s output and further increase Indonesia’s dominance for nickel production,” Scott-Gray said.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
- Strategic acquisition of 80% interest in the Nevada Lithium Project in the USA
- The project consists of four prospect areas comprising 65km2 covering the same geology that is known to host other major lithium deposits
Assay results received from all infill and extensional diamond holes drilled into and around the modelled mineralised domains of the St Patricks and St Andrews channels, significant intercepts include:
- First pass metallurgical testwork produced very good concentrate grades over 14% with initial concentrate grades up to 24% Ni and 5% Cu1
- Re-assaying of pegmatite intersections from reverse circulation (RC) holes in northern Nepean further confirmed the presence of lithium mineralisation, with results including:
- Preliminary metallurgical testwork successfully completed on the shallow high- grade nickel sulphide mineralisation, which responds well to conventional floatation beneficiation with nickel recoveries between 85% to 97% to produce a saleable concentrate grade of >13%Ni
- Two-hole diamond drill programme completed, testing prospective geological positions and an off-hole down-hole electromagnetic (DHEM) conduction at the Woodwind and Brass Prospects for potential nickel sulphide mineralisation
- Cash balance as at 30 June 2022 of $4.5 million- The in-house Chief Financial Officer role was made redundant, with all financial control requirements now outsourced to the Grange Consulting Group.
1Announced subsequent to the reporting period on 7 July 2022 – Saints Nickel Project Update
The upcoming work programmes and results for Auroch include the following:
Nevada Lithium ProjectDuring the reporting period, the Company successfully completed the strategic acquisition of an 80% interest in the Nevada Lithium Project in the USA, from Nevada Lithium Pty Ltd (Nevada Australia), the 100% shareholder of Nevada Li Corp (Nevada US), which has the rights to the Nevada Lithium Project (NLP).2
The NLP consists of four prospect areas – Traction, San Antone, Heller and Lone Mountain, comprising ~65 km2 of ground that is considered highly prospective for large sedimentary-hosted lithium deposits (Figure 1).
Figure 1 - Location of the Nevada Lithium Project (NLP) in relation to known large lithium deposits and regional geology (SGMC 1:350k, US Geological Survey Aug 2017)
2Refer to 8 June 2022 ASX Announcement - AUROCH COMPLETES ACQUISITION OF THE NEVADA LITHIUM PROJECT
The NLP is located close to the silver mining town of Tonopah in the mining-friendly counties of Nye and Esmeralda in the State of Nevada. The region is home to multiple large sedimentary-hosted lithium deposits including Ioneer Resources’ (ASX:INR) Rhyolite Ridge and American Lithium Corporation’s (TSX.V: LI) (US OTC: LIACF) (Frankfurt: 5LA1) TLC Lithium Project (Figure 1). Albemarle Corporation’s (NYSE:ALB) Silver Peak Lithium Mine is currently the only producing lithium mine in North America, and is approximately 45 km to the west of the NLP.
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This article includes content from Auroch Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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