Jangada sells South America PGMs project to ValOre

South America’s “largest and most advanced” platinum group metals (PGM) and nickel project, Pedra Branca in Brazil, is being sold to Canadian entity ValOre Metals for £4.1 million, London-listed Jangada Mines announced on Tuesday.

The company explained that while it continued to believe in the technical and economic prospects of Pedra Branca, there had been limited support in the UK financial markets for financing a PGM project.