70 Million Tons Of High-grade Nickel Ore Resources Discovered By Horizonte In Brazil

Horizonte Minerals announced on August 12 that they have discovered a new high-grade nickel resource in Serra do Tapa, Brazil.

Nickel is one of the main raw materials for stainless steel which mainly used to make stainless steel pipes or stainless steel plate.

The nickel ore meets the NI 43-101 standard and has a mineral resource of 70 million tons, a grade of 1.22% and a cut-off grade of 0.9%.

Horizonte Minerals currently has a total of 280 million tons of mineral resources, 3.5 million tons of nickel ore and 155,000 tons of cobalt. These include the development of a nickel-iron project in Araguaia, southern Brazil. The annual production of nickel can reach 14,500 tons, and the annual output of the first phase can reach 29,000 tons.

Horizonte Minerals also develops a nickel-cobalt project in Vermelho, northern Brazil, with an annual capacity of 15,000 tons to 18,000 tons of nickel and related cobalt mines.