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Horizonte Minerals PLC - nickel company focused on Brazil - Selects MIP Engenharia & Milplan to provide electro-mechanical installation services at its Araguaia nickel project. Says MIP/Milpan has "a strong track record" and prior rotary kiln-electric furnace experience from Vale's Onca Puma mine, a ferronickel mine with a similar processing flow sheet to Araguaia, and a number of other major mining projects in the Carajas region.
Chief Executive Officer Jeremy Martin says: "We are pleased to welcome Milplan Engenharia & MIP Engenharia, both world-class partners, to the team for the construction of Araguaia and we look forward to building a long-term relationship with them. This is another important step forward in the construction of Araguaia, further de-risking the project's timeline, which remains on schedule for first nickel in [first quarter] 2024. With the award of every new contract, we take a step closer to our objective of becoming a global leader in primary nickel production."
Araguaia is expected to produce 29,000 tonnes of nickel per year to supply the stainless steel market.
Current stock price: 86.70 pence, up 1.4% on Thursday afternoon in London
12-month change: down 57%
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