- Brazil-focused nickel developer Horizonte Minerals said its first-half losses deepened as it continued to develop its flagship Araguaia ferronickel project.

Pre-tax losses amounted to £1.3m, compared to £935k of loss a year earlier.

A feasibility study for Araguaia was nearing completion, chairman David Hall said.

'In parallel, we have made strong progress on several infrastructure related workstreams at the project, including energy and water,' Hall said.

'Positive progress on our projects has set a strong base for an important second half year for Horizonte, where we will outline our plans to bring into production one of the next major nickel mines, at a time when there are a number of factors driving global demand for nickel and cobalt.'

At 2:42pm: [LON:HZM] Horizonte Minerals PLC share price was 0p at 4.05p

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