{"id":1201223,"date":"2020-08-12T10:45:07","date_gmt":"2020-08-12T15:45:07","guid":{"rendered":"https:\/\/www.mining.com\/?p=1032442"},"modified":"2020-08-12T10:45:07","modified_gmt":"2020-08-12T15:45:07","slug":"horizonte-tasks-banks-to-raise-325-million-for-araguaia","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1201223","title":{"rendered":"Horizonte tasks banks to raise $325 million for Araguaia"},"content":{"rendered":"

Horizonte Minerals (TSX: HZM)\u00a0announced<\/a> on Wednesday that it has executed a mandate to arrange a senior secured project finance facility of up to $325 million to fund the construction and development of its flagship Araguaia nickel project in Para state in Brazil.<\/p>\n

A syndicate of five international financial institutions, including\u00a0BNP Paribas, ING Capital LLC, Mizuho Bank, Natixis, and\u00a0Soci\u00e9t\u00e9 G\u00e9n\u00e9rale will act as the Mandated Lead Arrangers. <\/p>\n

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Midday Wednesday, Horizonte\u2019s stock was up 16% on the TSE<\/p>\n<\/blockquote>\n<\/figure>\n

Araguaia will be the first of Horizonte\u2019s\u00a0projects\u00a0to move to the construction phase. A feasibility study 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.<\/p>\n

\u201cThis debt facility will cover a significant portion of the pre-production capex required to complete the Stage 1 construction for Araguaia. We are targeting completion of the project financing package for the Project by the end of 2020,” said Jeremy Martin, Chief Executive of Horizonte.<\/p>\n

The company aim to start construction in early 2021.<\/p>\n

Horizonte also owns the Vermelho property in Brazil \u2014 one of the largest and highest-grade undeveloped laterite nickel-cobalt resources in the world. According to the company, the project will generate $7.3 billion in total cash flow over 38 years<\/a>.<\/p>\n

Midday Wednesday, Horizonte\u2019s stock was up 16% on the TSE. The company has a C$100 million market capitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"

Midday Wednesday, Horizonte’s stock was up 16% on the TSE.<\/p>\n","protected":false},"author":110,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201223"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1201223"}],"version-history":[{"count":6,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201223\/revisions"}],"predecessor-version":[{"id":1201262,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201223\/revisions\/1201262"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1201223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1201223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1201223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}