Horizonte Minerals PLC - Nickel company developing two assets in Brazil - Says Araguaia nickel project line one constriction activities have continued to make good progress, with 65% of overall construction completed as of June 30. Says first metal output is on schedule for the first quarter of 2024. Adds around $329 million has been spent on Araguaia. Notes Araguaia nickel project line two feasibility study, which aims to double nickel production by to 29,000 tonnes, will be published later this year.

Chief Executive Officer Jeremy Martin says: ‘With the progress made to date, we remain confident in our ability to deliver our world-class project in a safe and responsible manner, continuing to move closer to unlocking the full value of Araguaia, and more broadly across Horizonte’s portfolio of tier 1 assets, realising our objective of becoming a low-cost nickel producer.’

Current stock price: 157.99 pence, up 0.3% on Thursday

12-month change: up 54%

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