Investor Presentaiton

Araguaia Nickel Project - Proven Process Anglo American's Barro Alto nickel mine utilises RKEF Rotary Kiln Electric Furnace (RKEF) Proven Process Fe-Ni product grading 20% produced at the Xstrata Process Support facility in Canada. A second stage pilot campaign for Horizonte will run in 2014 DRYER • • • Araguaia's ore confirmed as suitable for the Rotary Kiln Electric Furnace (RKEF) process RKEF is a proven nickel laterite processing technology which has existed for 60 years 20 operational RKEF plants worldwide in 2014 Test work completed includes; smelting, calcination, agglomeration - Hatch, FLS, Feeco, Xstrata BLAD GRANULATION HORIZONTE MINERALS RECEPTIONPHER ELECTROSTATIC PRECIPITATOR ROTARY KILN CRUSHER WATER TRAY CENIH AK ELECTRIC FURNACE PENSHOTS STORAGE COOLING WATER DAM LABLE NAME CRUSHER CHILUMIN FAN GRANULATION XINH ROTARY SCREEN FN DRYER DUSTBIN Developing the next major nickel project in Brazil : AIM/TSX HZM 13

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