Glencore Plc-backed Horizonte Minerals Plc is warning that it needs a whole new financing package to restart a nickel project in northern Brazil after a review revealed the mine will cost 87% more than thought.
Saeed Al-Rumaithi said steel demand in the second largest Arab economy grew from around 2.13 million tonnes in 2022 to about 2.5 million tonnes in 2023.