Examples abound, with some of the most recent and commented being Horizonte Minerals’ (LON, TSX: HZM) Araguaia nickel project in Brazil’s Amazon region. The latest update shows Araguaia will cost $1 billion, up from a previous $537 million budget, of which $479 million has already been spent. Beginning of production, which was supposed to happen this year, is now slated for early 2026, with ramp-up lengthened to 18 from 12 months.
Another case in point is Teck Resources’ (TSX: TECK.A | TECK.B) (NYSE: TECK) Quebrada Blanca copper project in Chile. The Canadian miner, spent much of 2023 fighting off a hostile approach from Glencore (LON: GLEN), last said its Quebrada Blanca 2 project would cost between $8.6 billion and $8.8 billion, compared with an original $5.3 billion estimate.
As part of the actions suggested, the authors highlight the need to adopt a systematic portfolio thinking….
