Horizonte Minerals Plc (LSE:HZM,TSX:HZM) announced results from its Araguaia nickel laterite project in Brazil.
Horizonte’s CEO, Jeremy Martin said:
The results from the PEA have exceeded our expectations and demonstrates that the project has two potential viable process routes that generate robust post tax net present values with solid rates of return. In the PEA study we looked at three process options; Rotary Kiln Electric Furnace; Atmospheric Tank Leach and Atmospheric Heap Leach (‘AHL’), to ensure that we had evaluated all the mainstream process options available in the market place. All three processing routes returned solid project economics however due to the high technological risk associated with the AHL process the Company is only pursuing the RKEF and ATL processing routes.