Horizonte awards earthworks contract for Araguaia ferronickel project
By Josh White
Date: Wednesday 11 May 2022
(Sharecast News) - Brazil-focussed nickel development company Horizonte Minerals has awarded the earthworks contract for the construction of its wholly-owned Araguaia ferronickel project to Copa Construção, it announced on Wednesday.
The AIM-traded firm described Copa as a "leading" Brazilian company with "extensive experience" in mining projects and civil infrastructure, ranging from roads, viaducts, hydroelectric power plants, ports, airports and transmission lines.
It said Copa had installed more than 2.5 billion cubic metres of concrete throughout the country, and held quality management certification.
Awarding the earthworks contract was described by the board as an "important step" in the construction of Araguaia.
The scope of the contract incorporated the process plant and supporting infrastructure components of the bulk earthworks for the ferronickel plant.
Horizonte said the contract scope was designed to ensure the site was ready for the civil construction works on completion, and would see Copa levelling the main plant area, creating a series of stepped plateaus to support the key process equipment packages and buildings, installing initial drainage facilities, as well as the main ramp and crusher platform.
"With Copa's strong track record of successfully delivering infrastructure projects across the country, signing this contract enables us to commence construction at the beginning of the dry season this quarter as planned," said chief executive officer Jeremy Martin.
"This is another important milestone in our 24-month project construction timeline, with next steps being the award of the civil works, 230 kV powerline and electromechanical construction contracts.
"We look forward to keeping the market updated on developments at site."
At 1232 BST, shares in Horizonte Minerals were up 1.31% at 6.94p.
Reporting by Josh White at Sharecast.com.
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