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

[September 28, 2015]  (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)

[© 2015 Thomson Reuters. All rights reserved.]

Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.