Horizonte Minerals has reported that costs at its Araguaia nickel project will increase by at least 35% and that first production will be delayed.
The company previously expected the mine to begin operating in early 2024, but that expectation has now shifted to the third quarter of next year.
Horizonte has indicated that the final detailed engineering work added additional scope items linked to the major equipment packages. It has made several enhanced design changes from the original engineering study and identified the requirement for additional civil works and quantities.
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