- Horizonte Minerals has awarded contracts for the feasibility study for its 100%-owned Araguaia nickel project in Brazil.

The aim of the FS is to deliver the most economically robust production scenario to produce 14,500 tonnes per annum of nickel using the proven rotary kiln electric furnace technology.

The Company's strategy is to position itself as one of the lowest cost nickel producers globally.

The FS is targeted for completion by the end of 2017 and the company is fully funded through to completion of the FS.

Contracts awarded for Araguaia feasibility study to leading consultants include:

- Worley Parsons Group to undertake the process engineering

- Snowden Mining Industry Consultants to undertake the mine planning, mineral resource estimate and the reserve estimate

-Environmental Resources Management to undertake the hydrogeology and the environmental and social permitting

- Other specialised consulting groups have been appointed for additional sections of the FS including groups involved in the pre-feasibility study

- Araguaia Feasibility Study has formally commenced with project kick off meeting being held on site during the first week of March with a number of work streams already under way

- On schedule to deliver the FS by end of 2017

At 9:10am: [LON:HZM] Horizonte Minerals PLC share price was +0.03p at 2.85p

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