Horizonte awards Araguaia civil works to Copa

The AIM-traded firm described Copa as a “leading Brazilian construction company”, with “extensive experience” in mining projects and civil infrastructure, that was also awarded the earthworks services contract at the project in May.

It said Copa had demonstrated a “safe and reliable” operating performance at the project thus far, with a track record of creating employment opportunities for local community members.

All of its contracted services had been delivered ahead of schedule, with Copa's track record complemented by its “extensive experience” in delivering civil construction projects for a number of large mining and industrial clients across Brazil.

Horizonte said the projects ranged from roads, viaducts, hydroelectric power plants, ports, dams and industrial plants.

In total, the company had installed a portfolio of more than 2.5 billion cubic metres of concrete throughout the country, all with the requisite quality management certification.

The award of the industrial civil works contract was described by the board as “another important step” in the construction of Araguaia.

It said the scope of the contract incorporated the supply and installation of the process plant foundations and related civil works for the supporting infrastructure.

The contract scope was designed to leverage Copa's reduced mobilisation requirements and familiarity with the project, which would assist to accelerate the installation of the foundations for the furnace, allowing the start of furnace shell installation during the fourth quarter.

Horizonte said the civils package would also see Copa undertaking the installation of all engineered and concrete structures for the processing facility, including piling, structural foundations, concrete slabs, and bolted connections to enable process equipment to be directly installed.

“The extension of our relationship with Copa, as a partner in the development of Araguaia, is another key milestone in the project's construction schedule,” said chief executive officer Jeremy Martin.

“With Copa's strong track record of successfully delivering infrastructure and mining projects across Brazil, as well as the safe and effective delivery of our earthworks contract at Araguaia, the award of this contract enables us to continue Araguaia's progress with confidence.”

The board said a full progress update on Araguaia would be provided in September.

At 1324 BST, shares in Horizonte Minerals were up 2.71% at 104.25p.

Reporting by Josh White at Sharecast.com.