Horizonte Minerals PLC inks contracts to export iron-nickel through Vila do Conde

Horizonte Minerals Plc signed two long-term port agreements, ensuring access for the import of raw materials and the export of finished iron-nickel products for its Araguaia project in Brazil, whose construction is still in the works, scheduled to enter into operation in the first quarter of 2024.

The contracts were awarded to the Atlantica Matapi Group (Matapi), and Santos Brasil Tecon Vila do Conde (Tecon), both operators in the Port of Vila do Conde, in Pará. The five-year contracts (with a five-year extension option) factor the company’s viability cost Horizonte Minerals, adjusted for the exchange rate, and represent another critical milestone for project risk reduction.

In addition to being the closest port in the Araguaia region, Vila do Conde also offers bonded warehouse services, unloading areas, cargo, and storage according to operational needs. Furthermore, by securing the same port for both contracts, there will be enough synergy to transport consumables and ferronickel products, allowing round trips to be utilized and maximizing cost savings.

According to Jeremy Martin, CEO of Horizonte Minerals, “As we near our first debt reduction, these port contracts are a key condition for accessing the credit line, demonstrating yet another example of the progress we are making in reducing Project risk.”

“With each new partnership we sign, we take one more step to unlock the full potential in Araguaia, and more broadly across Horizonte’s portfolio, to achieve our goal of becoming a low-cost nickel producer.”

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