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Jangada Mines slashes Pedra Branca project's capital costs by 32%

Jangada Mines PLC said Nov. 12 that total CapEx for its Pedra Branca platinum group metals project in Brazil were reduced by 32% to US$43.9 million following the creation of an updated process flowsheet for the property.

The flowsheet, which was developed jointly by Jangada and Consulmet Metals (Pty.) Ltd., showed a simpler and more efficient way to produce a PGM-rich nickel-copper sulfide concentrate and a chrome concentrate. It will form the basis of all subsequent test and design work associated with advancing the project toward feasibility.

The flowsheet also resulted in a 38% drop in plant CapEx, which now total US$33.8 million.

A preliminary economic assessment for Pedra Branca outlined a net present value, discounted at 7%, of US$192 million, an internal rate of return of 67% and a 1.6-year payback period.