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.
The La Mancha Resource Fund’s US$86 million 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.
* Completed by La Mancha Holding S.a r.l., the parent company of La Mancha Resource Capital LLP
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The fund works with portfolio companies to generate optimal exit opportunities by developing management succession programs, market positioning, and free float liquidity in concert with underlying business growth.
BUILD & IMPROVE
Support management teams in delivering strategic transformation:
promote operational efficiency improvements
aggressively explore to prove asset and land package potential
build new mines and capacities
proactive management of social & regulatory risk
Within the fund’s portfolio companies, we endorse continuous improvement of ESG metrics through the appointment of key executives to promote, prioritise and manage complex ESG challenges throughout the organisation.
Key investment criteria:
The fund takes large minority stakes (20-30%) in mining businesses that are undervalued in comparison to their peers.
Targets are typically listed and hard to research, with single or in-construction assets that have scope for organic and external growth.
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