07
2023
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03
Araguaia plans to build a second nickel production line to produce ice nickel
On March 6th, Horizonte Minerals, a mining developer focused on Brazil, announced that its Araguaia project's Line 2 feasibility study was consistent. The company listed on AIM stated that it plans to rebuild an RKEF processing plant, and Araguaia's second production line is expected to increase annual production by 100% to 29000 tons of nickel.
The company stated that the purpose of the feasibility study is to prepare a feasibility report with cost estimates and project execution plans, and it is expected that the research results will be released in the second half of 2023. This study is expected to prove that Araguaia's mine has a lifespan of over 25 years and an annual nickel production capacity of approximately 29000 tons.
Line 2 has designed an option in the process to allow a portion of the products from the second production line to be converted into ice nickel, allowing Araguaia to produce high-grade low impurity nickel iron while also upgrading to directly fed ice nickel and entering the electric vehicle battery chemistry supply chain.
Horizonte stated that the contracting teams are the main contributors to the ongoing engineering, cost accounting, and construction work of Araguaia Line 1, and have a broad understanding and understanding of the project.
CEO Jeremy Martin stated that the joint design of Line 1 and Line 2 is to produce 29000 tons of nickel annually, with a total resource of 119 million tons, which can support this situation and potentially extend the mine's lifespan in the future.
Martin stated that the company is also "excited" about the potential to choose to produce ice nickel, which allows Horizonte to participate in different parts of the nickel market. The company has made solid progress in the construction of Araguaia Line 1, which is still within budget and is scheduled to produce the first batch of nickel in the first quarter of 2024, while preparing for the company's next growth phase. The feasibility study for Vermelho is expected to be completed in 2024.
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