14th Sep 2015 08:40
LONDON (Alliance News) - Horizonte Minerals PLC on Monday said it has been awarded a new concession at the Araguaia nickel project in Brazil.
Horizonte said the new concession is adjacent to the Vale dos Sonhos and Serra do Tapa nickel laterite deposits owned by FTSE 100-listed miner and commodities trader Glencore PLC.
The company has also made filings for five additional concessions to the south of the Glencore projects and two concessions to the south west of Horizonte's existing project area.
"I am delighted to announce the award of this new concession area which sees us increase our land holding in Brazil where we are developing the country's next major nickel project. It has always been our intention to grow our position northwards from our flagship Araguaia project with the objective of consolidating the district," said Jeremy Martin, Horizonte's chief executive.
Shares in Horizonte were untraded Monday morning, having last traded at 1.80 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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