Horizonte Minerals Plc
Horizonte Minerals Plc is a UK-listed (AIM/TSX: HZM) nickel project developer building two Class 1 nickel mines — Araguaia and Vermelho — in Pará, Brazil, targeting stainless steel and EV battery supply chains; the company entered administration in May 2024 and is being wound down.
- Company typePublic
- Founded-
- HeadquartersBelo Horizonte, Brazil
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Horizonte Minerals Plc does
Horizonte Minerals Plc is a UK-domiciled public limited company listed on the AIM market of the London Stock Exchange and on the TSX under the ticker HZM. It operates as a project development-stage mining company focused on developing two Class 1 nickel projects in Pará state, Brazil: the Araguaia nickel project and the Vermelho nickel and cobalt project. Both projects are described as high-grade deposits positioned in the low quartile of the nickel cost curve with long mine life, intended to deliver a combined scalable production profile exceeding 60,000 tonnes of nickel per annum. The company operates through its wholly-owned Brazilian subsidiary Araguaia Níquel Metais Ltda., whose registered office is in Belo Horizonte, Minas Gerais. Targeted end-markets are stainless steel producers and electric vehicle battery manufacturers, with nickel positioned as a critical enabler of the clean energy transition.
The company never reached commercial production and generated no revenue during the period covered by the input. On 16 May 2024, Horizonte Minerals Plc was placed into Administration, with Chad Griffin and Geoff Rowley of FRP Advisory appointed as Joint Administrators to wind down the company's operations. Its subsidiary Araguaia Níquel Metais Ltda. subsequently filed for homologation of an Extrajudicial Recovery Plan on 24 January 2025 at the 2nd Business Court of Belo Horizonte, contemplating debt restructuring guidelines and the pursuit of new financing sources to complete the Araguaia project. The go-to-market model was structured around direct offtake agreements with stainless steel and EV battery counterparties rather than traditional distribution, but no such agreements are disclosed as executed in the source material. Headcount stood at 45 employees, consistent with a development-stage rather than producing operation.
Given the administration status and the wind-down mandate stated on the corporate website, Horizonte Minerals Plc is functionally a company in cessation of trading. Any continuation of the underlying mining assets is contingent on the success of the Brazilian subsidiary's extrajudicial recovery process and the attraction of new construction-completion financing, neither of which is documented as secured in the input data.
Horizonte Minerals Plc firmographics
Firmographics- Name
- Horizonte Minerals Plc
- Legal name
- Horizonte Minerals Plc
- Website
- https://horizonteminerals.com.br
- Company type
- Public
- Operating status
- Closed
- Headcount range
- 11–50 employees
- Short description
- Horizonte Minerals Plc is a UK-listed (AIM/TSX: HZM) nickel project developer building two Class 1 nickel mines — Araguaia and Vermelho — in Pará, Brazil, targeting stainless steel and EV battery supply chains; the company entered administration in May 2024 and is being wound down.
- Ownership category
- akta.pro rank
Horizonte Minerals Plc industry classification
Industry- Product category
- Nickel Mining
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230)
- SIC
- Metal Mining (1000)
- akta.pro primary industry
- Nickel Mining & Concentrates (IMAKAFAB)
- akta.pro secondary industry
- Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)
Keywords
Where Horizonte Minerals Plc is headquartered
LocationHeadquarters
- HQ city
- Belo Horizonte
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Horizonte Minerals Plc business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Others
Revenue model
- Nickel Production and Sales: The company was developing nickel mining operations to produce and sell Class 1 nickel for the stainless steel industry and electric vehicle battery market. The company was pre-revenue as the projects were under construction when it entered administration in May 2024.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Horizonte Minerals Plc product offering
Product offeringCore offering
Horizonte Minerals Plc is a nickel mining and project development company developing two Class 1 nickel projects in Pará state, Brazil: the Araguaia nickel project and the Vermelho nickel-cobalt project. The high-grade, low-quartile-cost projects have long mine lives and a combined target production capacity exceeding 60,000 tonnes of nickel annually, intended for sale to stainless steel producers and electric vehicle battery manufacturers.
Product overview
Horizonte Minerals Plc is a nickel mining company developing two Class 1 nickel projects in Pará, Brazil: the Araguaia nickel project and the Vermelho nickel and cobalt project. These are high-grade, low-quartile cost projects with long mine life, providing the company with a scalable production profile targeting over 60,000 tonnes of annual nickel output. The company's product portfolio centers on nickel production for the stainless steel industry and electric vehicle battery technology, positioning nickel as an essential enabler of clean energy transition.
Differentiator
Problem solved
Functional benefit
Products and services
- Araguaia Nickel Project
Companies that use Horizonte Minerals Plc
Customer profileSegments2 records
Ideal customer profiles2 records
Horizonte Minerals Plc technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Horizonte Minerals Plc partnerships and signals
Strategic signalScale indicators3 records
Recent moves5 records
Expansion highlights4 records
Horizonte Minerals Plc competitors and assessment
Company assessmentEmerging players
- Nickel 28 Capital Corp. Royalty and streaming company focused on nickel and cobalt assets, including the Ramu nickel-cobalt mine. Comparable as a focused nickel-cobalt exposure vehicle, though operating as a royalty/streaming vehicle rather than a mine developer.
- Talon Metals Corp. US-focused nickel developer with high-grade nickel-cobalt projects targeting the EV battery market. Comparable as a development-stage nickel-cobalt miner serving the same end-markets but with US asset base and smaller scale.
- Pacific Nickel Mines Limited: Australian-listed nickel developer with laterite nickel projects in the Solomon Islands. Comparable as a junior development-stage nickel miner targeting the battery and stainless steel supply chains, with similar pre-construction stage.
Broad incumbents
- Vale S.A. Brazilian-headquartered diversified mining major with significant nickel production alongside iron ore, copper, and other metals. Comparable as a Brazilian nickel producer targeting stainless steel and EV battery markets, but vastly larger and diversified across multiple commodities.
- Eramet SA: French mining and metallurgical group producing nickel through its New Caledonia operations, including Class 1 nickel for batteries. Comparable as a nickel producer with both mining and processing capabilities targeting lithium-ion battery supply chains.
- Anglo American plc: Global mining major with nickel operations, including ferro-nickel production. Operates in the same Class 1 and Class 2 nickel space targeting stainless steel and battery markets, but at a vastly larger scale with diversified mining portfolio.
- BHP Group Limited: Global mining major with Nickel West operations in Western Australia. Comparable as a producer of Class 1 nickel for stainless steel and battery markets, but at vastly larger scale as a diversified mining multinational.
Direct peers
- Canada Nickel Company Inc. Canadian junior mining company developing large-scale nickel projects targeting battery-grade nickel for the EV supply chain. Highly comparable as a development-stage nickel miner focused on Class 1 nickel for stainless steel and EVs, with similarly long mine life ambitions.
- Jervois Mining Limited: Australian mining company developing the Nico Young nickel-cobalt project and operating the São Miguel Paulista nickel refinery in Brazil. Highly comparable as a nickel-cobalt developer with Brazilian operational presence and battery-grade nickel aspirations.
- Sherritt International Corporation: Canadian mining company producing nickel and cobalt from operations including Moa mine in Cuba. Comparable as a nickel-cobalt producer with Class 1 nickel output for stainless steel and battery applications, with development-stage growth ambitions.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Horizonte Minerals Plc social profiles
Digital presenceHorizonte Minerals Plc financial estimates
Financial estimateRevenue estimate
Valuation estimate
Horizonte Minerals Plc leadership team
Management profileNumber of profiles
Profiles2 records
Horizonte Minerals Plc subsidiaries and ownership
Company hierarchySubsidiaries1 record
Horizonte Minerals Plc funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Horizonte Minerals Plc M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Horizonte Minerals Plc
What does Horizonte Minerals Plc do?
Horizonte Minerals Plc is a nickel mining and project development company developing two Class 1 nickel projects in Pará state, Brazil: the Araguaia nickel project and the Vermelho nickel-cobalt project. The high-grade, low-quartile-cost projects have long mine lives and a combined target production capacity exceeding 60,000 tonnes of nickel annually, intended for sale to stainless steel producers and electric vehicle battery manufacturers.
Is Horizonte Minerals Plc a public or private company?
Horizonte Minerals Plc is a public company. It is classified as public and is currently closed.
When was Horizonte Minerals Plc founded?
Horizonte Minerals Plc was founded in -1. It employs 11 to 50 people.
Where is Horizonte Minerals Plc based?
Horizonte Minerals Plc is headquartered in Belo Horizonte, Brazil, in the Latin America region.
How does Horizonte Minerals Plc make money?
One revenue line is on record: nickel Production and Sales.
Who are Horizonte Minerals Plc's main competitors?
Emerging players on record are Nickel 28 Capital Corp., Talon Metals Corp. and Pacific Nickel Mines Limited. Broad incumbents are Vale S.A., Eramet SA, Anglo American plc and BHP Group Limited. Direct peers are Canada Nickel Company Inc., Jervois Mining Limited and Sherritt International Corporation.
Does Horizonte Minerals Plc have an API?
No public API is recorded for Horizonte Minerals Plc.
What industry is Horizonte Minerals Plc in?
Horizonte Minerals Plc's product category is Nickel Mining. Its primary akta.pro industry code is IMAKAFAB, Nickel Mining & Concentrates, with a secondary code of IMAKAFAM, Mine Development & Processing EPC (Critical Minerals). Its NAICS code is 212230 and its SIC code is 1000.