Jangada Mines PLC Application Submitted for Trial Mining License (8561S)
March 19 2021 - 5:15AM
UK Regulatory
TIDMJAN
RNS Number : 8561S
Jangada Mines PLC
19 March 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8561S_1-2021-3-19.pdf
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
19 March 2021
Jangada Mines plc
Application Submitted for Trial Mining License
Jangada Mines plc ("Jangada" or "the Company"'), a natural
resources company is pleased to announce that it has submitted an
application to the Brazilian National Mining Agency (ANM - Agência
Nacional de Mineração) to obtain a trial mining licence ("Guia de
Utilização", or "GU") for its 100%-owned Pitombeiras Vanadium
Project ("Pitombeiras", "Pitombeiras Project" or "the Project"),
located in Ceará State, Brazil.
Once approved, the GU will allow for the extraction of 300,000
tonnes of Ferrovanadium (FeV) bearing material per year from
Jangada's exploration licenses with the purpose of continuing to
evaluate the technical aspects and economic benefits of the
Pitombeiras Project.
Brian McMaster, Executive Chairman of Jangada, said : "The
application for the trial mining licence is another key step for
Jangada in ensuring the transition from developer to producer with
the aim to start production in 2022. On the submission of our
application last week, we have been exceptionally well received by
the top local mining authorities, State secretaries and Community
representatives, including the Mayor of the municipality of Tauá,
where the Project is located. We have held a series of meetings and
project site visits showcasing the robustness of our Pitombeiras
Project, detailed in the recently disclosed Preliminary Economic
Assessment ("PEA"), along with our development strategy and
potential benefits to the local community. Upon the GU being
granted, Jangada will work to implement a pilot plant, which will
not only provide cash flow from operations but also will enable us
to qualify bulk samples in the marketplace and establish future,
firm offtake agreements on a larger scale operation."
Further Information
During last week, Jangada Mines' Executive Director, Luís
Azevedo, and VP Project Manager, Jose Luís Martins, met in
Fortaleza, Ceará with the local ANM Manager, Mr. Ricardo Bezerra,
and submitted Jangada's application for the trial mining licence,
also known as Guia de Utilização, or GU. The Company anticipates
hearing back from the ANM during Q3 2021.
They were also received by Ceará's State Secretaries - ADECE
(Ceará State Development Agency) with the objective to work on a
Memorandum of Understanding ("MOU") which will include the Project
as part of the State Development Agenda. The MOU aims to expedite
the process of obtaining the necessary licences for the
implementation and operation of the Pitombeiras Project.
In the Municipality of Tauá, Jangada has held meetings and
conducted a Project site visit with Tauá Mayor and its Development
Secretary. The Company has had the opportunity to present in detail
the work completed to date and future development strategies to
bring the Project to production and its associated benefits to the
local community. In return, Jangada has also discussed at length
potential support from the Government for project site
infrastructure, which includes access road improvements, energy and
water sources and workforce.
The objective of the trial mining licence is to initiate the
extraction of Ferrovanadium (FeV) from the Pitombeiras Project,
through an open pit mine operation. At this stage of the
development, the Pitombeiras PEA has focused on evaluating a Direct
Shipping Ore ("DSO") operation for the sale of a saleable magnetite
concentrate containing a minimum of 62% Fe and additional credit
from 25% contained V(2) O(5) .
A pilot operation under the trial mining licence can be
developed with a small starter open pit operation utilising a
contract mining fleet of hydraulic excavators, front-end loaders,
30 tonnes haul trucks, rotary drill rigs and ancillary equipment.
The selected beneficiation process route is composed of crushing
and screening, and dry magnetic concentration.
Meeting with Secretaries of the Ceará State Development
Agency - See PDF
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
**ENDS**
For further information please visit www.jangadamines.com or
contact:
Jangada Mines plc Brian McMaster (Chairman) Tel: +44 (0) 20 7317
6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
(Nominated & Financial Ritchie Balmer 3494
Adviser) Jack Botros
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Isabel de Salis E: info@stbridespartners.co.uk
Ltd Beth Melluish
(Financial PR)
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