Horizonte closes project finance for Araguaia

Dual-listed Horizonte Minerals has closed agreements with two export credit agencies for senior project finance debt of $346.2-million to advance its Araguaia nickel project, in Brazil.

The senior debt facility will include a commercial senior facility of $200-million, an export credit agency (ECA) facility of $74.56-million guaranteed by Denmark’s EKF and an ECA facility of $71.64-million guaranteed by Finland’s Finnevera.