Jangada Mines PLC (LON:JAN) has been granted a trial mining licence for the Pitombeiras ferrovanadium project by the Brazilian National Mining Agency, the Agência Nacional de Mineraço.
The licence allows for the extraction of up to 300,000 tonnes of ferrovanadium-bearing material per year with the purpose of continuing to evaluate the technical aspects and economic benefits of the project.
Executive chairman Brian McMaster called the news a “significant development milestone.”
“This outcome is a result of our solid development strategy and communication with local authorities about the quality of our project and the benefits to the local community and regional development,” he said.
The company continues to advance the project towards a preliminary economic assessment.
The licence allows for the extraction of FeV through an open pit mine operation. At this stage of development, the Pitombeiras PEA has focused on evaluating a direct shipping ore operation for the sale of a saleable magnetite concentrate containing a minimum of 62% iron and additional credit from 25% contained V2O5.
A pilot operation under the trial mining license can be developed with a starter open pit operation utilising a contract mining fleet of hydraulic excavators, front-end loaders, 30 tonne haul trucks, rotary drill rigs and ancillary equipment.