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Locals show support for Horizonte Minerals’ Araguaia nickel project-The 16th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
3/12/2015 Stainless Steel Exhibition |
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Local residents and government officials in Para State, north central Brazil, have backed Horizonte Minerals’ (LON:HZM) plans for its Araguaia nickel project.
Over 1,000 people turned out at a public hearing in the town of Conceicao do Araguaia, 35km from Horizonte’s proposed mine, which was part of the company’s social and economic impact assessment.
Public hearings are a key part of this process in Brazil and Horizonte said the positive outcome paves the way for a preliminary licence, the first of three permits required to bring Araguaia into production.
Jeremy Martin, chief executive, said 450 direct jobs will be created in the operational phase of the mine and a range of public health initiatives, environmental education and economic developments are planned for the area.
“We are now in a strong position to advance Araguaia through the feasibility stage in 2015 and are committed to sustainability and ensuring that our local stakeholders will share in the benefits of bringing this project to production," he said.
Last week the firm said ongoing drilling confirmed high grade nickel in areas ear-marked for the early years of the proposed Araguaia mine.
Broker finnCap reiterate its 44p price target, based on a nickel price of US$8.62/lb.
-The 16th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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