Horizonte Minerals upbeat over nickel price
Nickel has been the best performing metal on the London Metal Exchange this year rising by 27% to US$13,960 per tonne (/t) on average, a figure in line with the assumptions in Araguaia’s feasibility study.
Concerns remain about supplies of the metal when electric vehicle production fully hit its stride says Horizonte, with the consensus price around US$16,400/t.
Araguaia is scheduled to begin production in 2021.
Horizonte shares have risen by 85% this year to 3.55p.