Horizonte Minerals acquires Vale’s Vermelho nickel-cobalt project for $8 million

Mining company Horizonte Minerals PLC announced Tuesday December 19 that it reached an agreement with Vale S.A. to acquire 100% of its nickel-cobalt project, Vermelho, for $8 million.

The project in Brazil has a nameplate production capacity of 46,000 tonnes of nickel and 2,500 tonnes of cobalt. The project contains over 1 million tonnes of contained nickel and 43,000 tonnes of contained cobalt, the company said in the announcement. There will be an initial...

Published

Justin Yang

December 19, 2017

09:50 GMT

London