South America-focused platinum group metals (PGM) project developer Jangada Mines on Monday announced that it had been issued an environmental licence for trial mining at the Pedra Branca project, in north-eastern Brazil.
The environmental licence is the final requirement before the company can submit an application for a trial mining licence. The application will be lodged before year-end, although Jangada does not plan to start trial mining until after it has completed a bankable feasibility study (BFS).
"Obtaining environmental approval is a critical step in the ongoing development process at the Pedra Branca project. Generally, the preparation for environmental approvals can be a lengthy process and receiving the approval now validates our decision to engage in this process during 2017,” said chairperson Brian McMaster.
“Although we do not intend trial mining until post BFS, it will be sensible to obtain the permit early so that we are prepared to proceed expeditiously following completion of the BFS,” he added.
The Pedra Branca project has a resource of one-million ounces of PGMs and gold.
The company is listed on the Aim of London and traded 2% higher on Monday.