Horizonte acquires Glencore's Brazil nickel project for $8 million

Mon Sep 28, 2015 6:28am EDT
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(Reuters) - Horizonte Minerals said on Monday it had bought Glencore's Araguaia nickel project in Brazil for $8 million.

"This is a game-changing transaction for Horizonte. We have been able to negotiate a unique transaction leveraging the current depressed commodity markets," Horizonte CEO Jeremy Martin said in a statement.

A Glencore spokesman said the deal was part of the company's plan to dispose of non-core assets.

London-listed Horizonte is a Brazil-focused nickel development company.

(Reporting by Olivia Kumwenda-Mtambo; Editing by David Holmes)

The logo of Glencore is pictured in front of the company's headquarters in the Swiss town of Baar, November 13, 2012. REUTERS/Michael Buholzer