Horizonte Minerals Plc received formal credit and board approval from two export credit agencies for USD 146.2 million of the senior secured project finance facility to part fund construction and development of its Araguaia ferro-nickel project. The ECAs are EKF, Denmark's Export Credit Agency and Finnvera plc, Finland's Export Credit Agency. The Senior Debt Facility comprises two tranches, of which Tranche A of USD 146.2 million is to be guaranteed by the ECAs in relation to a number of key equipment and service provider contracts. Tranche B of the Senior Debt Facility is expected to be provided by a syndicate of international financial institutions. The ECA approvals are a key step forward in the project financing process, and Horizonte is now nearing completion of the credit approvals by the Senior Lenders for the balance of the project financing of Araguaia.