Jangada Mines Plc said Dec. 11 that it received government approval for pilot-scale production at its Pedra Branca platinum project in northeastern Brazil.
The company now intends to make an application for a trial mining license during the first quarter of 2018.
A scoping study for the Pedra Branca project estimated a net present value, discounted at 10%, of US$158.4 million, an 80.5% internal rate of return and a payback period of 1.3 years based on a multicommodity ore suite mined at an average grade of 1.22 g/t platinum group metals and gold with additional credits from nickel, copper, chrome and cobalt.
