LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Horizonte Minerals Proposes USD633m Package to Finance Brazil’s Araguaia Nickel Mine

November 23, 2021

(Proactive) Horizonte Minerals agreed to provide a USD633m package to fund the construction of the Araguaia project, a nickel mine in Brazil. The package comprises USD197m in equity; USD65m in convertible notes; a USD25m cost overrun debt facility; and a USD346.2m proposed senior debt facility.

announced that it has initiated investment and subscription agreements as part of a comprehensive funding package of US$633 million, which will be funding the construction of Araguaia — a high-grade nickel project situated south of the Carajas Mining District in Brazil.

The London-based company told its investors that the development of Araguaia will provide Horizonte with a platform for growth in an established mining region, with the potential to become a significant nickel producer of scale.

“We are delighted to announce the proposed funding package which, subject to satisfaction of the conditions and successful completion of the placing, is expected to fully fund Araguaia into production,” said Jeremy Martin, CEO of Horizonte, in a release.

He added: “We are aiming to become a leading nickel producer. We believe the terms of the financing package and caliber of the lenders and strategic investors we have attracted is a testament to the strong project fundamentals offered by Araguaia.”

The proposed funding package would comprise of US$197 million equity fundraise; US$65 million as convertible loan notes issue; US$25 million cost overrun debt facility; and US$346.2 million proposed senior debt facility.

In addition, the mining company said that it is also planning to raise up to US$8 million through an open offer to holders. 

Among the listed strategic plans, La Mancha and Orion have signed up as strategic investors and shareholders. 

La Mancha has subscribed for approximately US$75 million in equity and US$15 million of convertible notes. Meanwhile, Horizonte issued shares worth US$50 million to Orion.

Orion has also subscribed for US$50 million of convertible notes.

“We are delighted to welcome La Mancha and Orion as new and existing, respectively, strategic investors and shareholders in Horizonte, and also grateful for the continued support of Glencore who, in addition to their proposed cornerstone subscription, have also extended their relationship with Horizonte by agreeing to enter into the Offtake Agreement,” said Martin.

Martin noted that La Mancha and Orion have long track records of creating sustainable shareholder value in the mining sector and “their previous investments highlight their ability to identify compelling growth opportunities at an early stage.”

“The proposed investments from La Mancha, Orion, and Glencore, alongside the proposed senior debt facility from a syndicate of leading international financial institutions, provides strong endorsement of our broader corporate strategy,” Martin concluded. 

Horizonte Minerals Proposes USD633m Package to Finance Brazil’s Araguaia Nickel Mine was last modified: December 1st, 2021 by natalie
0
Facebook Twitter Google +

Sign up for LAVCA’s bi-weekly Latin American Private Capital Update and the LatAm Venture Bulletin, produced specifically for venture investors, entrepreneurs, and technology startups in the early stage ecosystem.






Which LAVCA Newsletter would you like to receive?

VC Partner Events

    Tweets

    • Check out this week's top #startup deals and news on emerging tech in #LatAm from LAVCA's #LatAmVentureBulletin:… https://t.co/NOvUvkCflB

      27-Jan-2023

      Reply Retweet Favorite
    • #VC investment in #LatAm in 2022 reached USD7.5b, according to preliminary LAVCA data. Stay tuned for LAVCA’s yea… https://t.co/kAqAuL8Iq5

      23-Jan-2023

      Reply Retweet Favorite
    • January 20 is the last chance to register for "ESG in Venture and Tech Investing," the latest training in the LAVCA… https://t.co/UrbfcPgM7l

      19-Jan-2023

      Reply Retweet Favorite
    • Submissions for the 2023 LAVCA ESG Deal Awards are closing on January 20, 2023. LAVCA's ninth annual showcase will… https://t.co/AIu4FVKxT6

      11-Jan-2023

      Reply Retweet Favorite
    • Thank you for your continued support and commitment to grow private capital investment in Latin America. We look fo… https://t.co/AHA1txwyJZ

      30-Dec-2022

      Reply Retweet Favorite

    Submit VC News

    Have private equity or venture capital related news that you would like to share? Submit your press releases and news to [email protected].

    VC Industry News

    • Magma Partners Leads USD8.5m Round for Mexico’s Zenfi

      January 23, 2023
    • DILA Capital announces the final closing of its new fund, DILA IV, for USD115m

      January 17, 2023
    • Amplifica Capital Reaches USD11m Final Close for Venture Fund

      January 17, 2023
    • Framework Ventures Leads USD15m Round for Brazil’s Parfin

      January 17, 2023
    • DILA Capital Reaches USD115m Final Close for DILA IV Fund

      January 17, 2023
    • General Catalyst Leads USD10m Round for Brazil’s Genial Care

      January 13, 2023
    • Kayyak Ventures Leads USD10m Series A for Chile’s HealthAtom

      January 6, 2023
    • Kayyak Ventures Leads USD10m Series A for Chile’s HealthAtom

      January 6, 2023
    • IMPAQTO Capital Reaches First Close for USD2m Impact Fund 

      January 5, 2023
    • monashees and CapSur Capital Lead USD8m Round for Brazil’s The Coffee

      December 27, 2022
    • Brazil’s Paketá Secures BRL300m in Debt Financing from Milenio Capital

      December 14, 2022
    • Headline Leads BRL36m Round for Brazil’s Smart Break

      December 14, 2022
    • FEN Ventures and Innogen Lead USD7m Equity and Debt Seed Round for Peru’s Wynwood House

      December 14, 2022
    • Canary Leads ~USD4m Seed Round for Brazil’s Lastro

      December 14, 2022
    • Princeville Capital Leads USD70m Series D+ for Chile’s NotCo

      December 14, 2022
    • Alexia Ventures Leads USD16.5m Round for Brazil’s Seedz

      December 14, 2022
    • Gerdau Next Ventures and Inovabra Lead ~USD21m Series B for Brazil’s Docket

      December 14, 2022
    • Urban Innovation Fund Leads USD4.4m Seed Round for Mexico’s Plenna

      December 14, 2022
    • Gerdau Next Ventures and Inovabra Lead ~USD22m Series B for Brazil’s Docket

      December 7, 2022
    • Banco Santander Leads USD10m Series B for Chile’s Destacame

      December 7, 2022
    • Headline Leads ~USD7m Round for Brazil’s Smart Break 

      December 7, 2022
    • FEN Ventures and Innogen Lead USD7m Seed Round for Peru’s Wynwood House

      December 7, 2022
    • Chile’s Legria Raises USD6m From Chile Ventures, Genesis Ventures, Others

      December 7, 2022
    • Genesis Ventures, Amarena and Grupo Penta Invest USD6m in Chile’s Kredito

      December 7, 2022
    • Glisco Partners Leads USD27m Series B for Colombia’s Muncher

      November 23, 2022
    • DXA Invest and Arien Lead ~USD6m Series A+ for Brazil’s Aviation Platform Flapper

      November 23, 2022
    • Better Tomorrow Ventures and Metaprop Lead USD7.5m Round for Mexico’s Fintech Yave

      November 23, 2022
    • Lightrock Leads BRL145m Series B for Brazil’s Agrolend

      November 23, 2022
    • Mexico’s GoTrendier Raises ~USD15m Series B Led by IDB Invest, Creas Impacto and IDC Ventures

      November 22, 2022
    • Mexican Fintech Kapital Secures USD100m Debt Facility from Sivo

      November 8, 2022
    • Victory Park Capital and Industry Ventures Lead USD60m Equity and Debt Round for Mexican Fintech Mendel

      November 8, 2022
    • Mexico’s Quinio Raises USD40m in Equity and Debt Round

      November 8, 2022
    • Brazilian ERP Platform Ativy Secures ~USD24m in Venture Debt from Milenio Capital and Paramis

      November 8, 2022
    • FinTech Collective Leads USD10m Seed Round for Mexican Fintech mattilda

      November 8, 2022
    • KASZEK and DILA Capital Lead USD7.6m Round for Mexican Fintech Cicada

      November 8, 2022
    • Chan Zuckerberg Initiative Leads Series C for Brazil’s Beep Saúde

      November 8, 2022
    • Mexico’s Kukun Raises USD4.5m Round from FJ Labs, Antelo Capital and Others

      October 26, 2022
    • Colombia’s HoyTrabajas Raises USD5m Seed Round

      October 26, 2022
    • Lightspeed Leads USD5m Seed Round for Argentina’s Fidu

      October 26, 2022
    • Apollo Global Management Enters USD1.5b Financing Agreement with Brazil’s Embraer

      September 27, 2022
    • Fifth Wall Invests USD30m in Series C+ for Brazil’s Solfácil

      September 27, 2022
    • Globant Ventures invests ~USD1m in Uruguay’s Bunker DB

      September 27, 2022
    • Chromo Invest, Canary, Others Invest BRL9m in Brazil’s Civi; Canary Leads USD1.1m in Pre-seed Round for Mexico’s Bendo

      September 27, 2022
    • GSV Ventures Leads USD2m Seed Round for Peru’s uDocz 

      September 27, 2022
    • KASZEK and Y Combinator Leads USD5m Investment for Mexico’s DolarApp 

      September 27, 2022
    • Mexico’s Naya Homes Raises USD5.6m Seed Round From Carao Ventures, Clocktower Technology Ventures, Others

      September 27, 2022
    • Astella Leads BRL40m Series A for Brazil’s Amicci 

      September 27, 2022
    • Moore Capital Leads BRL40m Series A+ for Brazil’s BHub 

      September 27, 2022
    • monashees and Construct Capital Lead USD8.5m Round for Brazil’s Leoparda Electric

      September 27, 2022
    • Colombia’s RappiPay Secures USD11m Syndicated Credit Line from Bancolombia, Others

      September 27, 2022
    • Salkantay Ventures Reaches USD26m Final Close for First VC Fund

      September 27, 2022
    • Vinci Partners To Acquire Minority Stake in Brazil’s Efficopar 

      September 27, 2022
    • BTG Pactual To Acquire Brazil’s UPI Itiquira for BRL146.7m

      September 27, 2022

    About LAVCA

     

    LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

    LAVCA Office

        New York City:
        589 8th Ave, 18th Floor
        New York, NY 10018

    Explore LAVCA.org

    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact Us
    • Membership Benefits
    • Members Only Access
    • Education and Programs
    • Research
    • Policy
    • LAVCA VC
    • Contact Us

    @2020 - LAVCA. All Rights Reserved.


    Back To Top