Horizonte Minerals granted 'key' water mermit for Brazil nickel project

This development means Horizonte is closer to its objective of being construction-ready by the end of 2018.

“The permit guarantees access to water, required for the full-scale commercial operation at Araguaia, including mining and beneficiation plant activities,” the company said in a statement.

It added that the consent “further de-risks Araguaia, as it ensures that the project will have sufficient water to conduct open-pit mining operations and operate the process plant continuously for 24 hours a day, 365 days per year”.

Chief Executive Jeremy Martin said water availability for mining projects was a “key risk in many countries” and would allow the company to mine and process 14,500 tonnes of nickel a year.

"Elsewhere on the project we are working towards the completion of the feasibility study due mid-year, together with advancing the final permits required to ensure the project is construction ready and moving forwards with strategic initiatives relating to the project financing," he added.