- Natural resources company Jangada Mines said preliminary capital expenditure had been significantly reduced following the creation of an updated process flowsheet in partnership with Consulmet for its Pedra Branca project.

The company said projected plant capex costs were reduced by 8% to US$33.8m, while upfront capex costs were reduced by 32% to US$43.9m.

'Today's refinement and optimisation of the process flowsheet has delivered an impressive 32% and 38% reduction in plant capex and overall capex, respectively, further enhancing the Project's potential to provide lucrative returns, said Brian McMaster, Chairman of Jangada.

'As such, we are delighted with today's result, which is primarily a result of Consulmet's highly specialist experience in building PGM plants.'

At 9:41am: [LON:JAN] Jangada Mines Plc Ord Gbp0.0004 share price was +0.11p at 2.43p

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