Horizonte Minerals PLC

Ownership: 19.9%

Holding: December 2021

StockHZM:LON

Horizonte Minerals is a nickel development company with operations in Brazil that is listed on the Alternative Investment Market of the London Stock Exchange and the Toronto Stock Exchange. The Company is developing two, 100% owned nickel projects in Pará State, northern Brazil. With both Araguaia and Vermelho projects in operation, Horizonte will become a major nickel producer supplying the stainless steel and battery markets.

La Mancha’s $86m investment will go towards construction funding to bring the Araguaia project into production, which will produce ferronickel for the stainless steel market using the relatively lower-risk RKEF process. Araguaia comprises a high-grade scalable resource, located just south of the established Carajás Mining District (Para State) in an area of well-developed infrastructure (incl. roads, rail and hydropower) as well as access to a technically and operationally skilled workforce.