Aim- and TSX-listed Horizonte Minerals has executed a mandate to arrange a senior project finance facility of up to $325-million to fund the construction and development of its Araguaia ferronickel project, in Brazil.
A syndicate of five international financial institutions, including BNP Paribas, ING Capital, Mizuho Bank, Natixis New York Branch and Société Générale will act as the mandated lead arrangers.
The debt facility would cover a significant portion of the pre-production capital required to complete the Stage 1 construction for Araguaia, CEO Jeremy Martin said on Wednesday.