Horizonte Minerals Announces Executives’ Departure

Horizonte Minerals PLC announced on Monday the forthcoming departure of its Co-Founder and Chief Executive, Jeremy Martin, alongside Chief Financial Officer Simon Retter. The London-based nickel development company disclosed the appointment of Karim Nasr as interim CEO.

Horizonte also proposed appointing senior board member Paul Smith as Chair and IAMGOLD Corp Chair Maryse Belanger as the new interim chief operating officer.

Nasr currently serves as the managing partner and co-chief investment officer of La Mancha Resource Capital LLP, advising La Mancha Resource Fund SCSp, a significant shareholder of the company. Nasr will resign from his role at La Mancha, as confirmed by the firm.

Non-Executive Director John MacKenzie expressed appreciation for Jeremy’s leadership and contributions, acknowledging his role as a founding director since 2010. He welcomed Karim Nasr, noting his esteemed leadership and the company’s fortune in securing someone of his caliber to navigate the financing and restructuring process.

The company highlighted these board changes amid ongoing discussions regarding a financing solution for its Araguaia Nickel project. Earlier this month, the firm’s shares dropped following a reduction in construction activities at the site, aiming to secure funding to address cost escalations of at least 35%.

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