Bravo Mining
Bravo Mining Corp. is a Canadian-Brazilian mineral exploration and development company advancing the Luanga PGM+Au+Ni project in Brazil's Carajás Mineral Province toward production, supported by a 2025 PEA showing US$1.25B–1.86B NPV8.
- Company typePublic
- Founded2022
- HeadquartersRio De Janeiro, Brazil
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Bravo Mining does
Bravo Mining Corp. is a Canadian-domiciled, Brazil-focused mineral exploration and development company whose sole material asset is the Luanga platinum group metals, gold, and nickel project located in the Carajás Mineral Province of Pará State, Brazil. The company's core activity is resource delineation, economic study work, and regulatory permitting on Luanga; per its 2025 Mineral Resource Estimate, the project hosts 10.4 million ounces of palladium-equivalent in the Measured & Indicated category plus 5.0 million ounces Inferred. The company is pre-revenue, pre-production, and has no operating mine, offtake, or commercial sales at present. Its functional purpose is to convert a single polymetallic resource into a producing mine, supported by CEO Luis Azevedo (35+ years of Brazilian mining experience) and President Simon Mottram, with approximately 45% insider ownership indicating strong management-shareholder alignment.
The underlying "technology" is geological and metallurgical rather than software-based: drilling, assaying, resource modeling, and process flowsheet design culminating in a Preliminary Economic Assessment that contemplates two development architectures — a Base Case with US$496 million initial capex utilizing third-party smelter offtake, and an Alternate Case with US$677.6 million initial capex using a centralized sulphide flotation circuit for vertical integration. Both cases imply a 17-year mine life, a 49% IRR, AISC of US$638/oz PdEq, and NPV8 of US$1.25 billion (Base) to US$1.86 billion (Alternate). Regulatory progress is advanced relative to typical juniors: Licença Prévia has been granted, ZPE (Zona de Processamento de Exportação) status approved, and a Presidential Decree obtained, together providing a meaningful permitting and tax advantage.
The business model is conventional junior-mining economics: equity-funded exploration and study work today, with future monetization intended through the sale of PGM, gold, and nickel concentrates or refined metals once construction is complete. The company has begun broadening its optionality by establishing a separate Copper-Gold exploration division, signaling potential evolution from a single-asset developer toward a multi-commodity Brazilian explorer. Capital is sourced from equity markets (TSXV: BRVO; OTCQX: BRVMF) and project-level financings such as the recent Orion transaction, with ~US$97 million in pro-forma cash as of April 2026. Customers do not yet exist; future revenue mechanics will depend on whether offtake or vertical integration is selected.
Bravo Mining firmographics
Firmographics- Name
- Bravo Mining
- Legal name
- Bravo Mining Corp.
- Website
- https://bravomining.com
- Company type
- Public
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Bravo Mining Corp. is a Canadian-Brazilian mineral exploration and development company advancing the Luanga PGM+Au+Ni project in Brazil's Carajás Mineral Province toward production, supported by a 2025 PEA showing US$1.25B–1.86B NPV8.
- Ownership category
- akta.pro rank
Bravo Mining industry classification
Industry- Product category
- Mineral Exploration and Mining
- NAICS
- Other Metal Ore Mining (212290)
- SIC
- Metal Mining (1000), Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Precious Metals Exploration & Project Development (IMAKAEAI)
- akta.pro secondary industries
- Gold Mining (IMAKAEAA), Precious Metals Ore Processing & Beneficiation (IMAKAEAD), Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)
Keywords
Where Bravo Mining is headquartered
LocationHeadquarters
- HQ city
- Rio De Janeiro
- HQ country
- Brazil
- HQ region
- Latin America
Offices4 records
Markets served
Bravo Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales, Others
Revenue model
- Pre-revenue mineral exploration & development: Bravo Mining is currently pre-revenue; no commercial production yet. The 2025 PEA contemplates two future revenue scenarios: (1) Base Case - concentrate sales to third-party refiner/smelter (likely Southern African smelter per PEA assumptions); (2) Alternate Case - vertically integrated metal production via pyrometallurgical processing to produce LME-grade Pd, Pt, Rh, Au, Ni. Future revenue expected to come from sale of PGM+Au+Ni concentrate (Base Case) or refined metals (Alternate Case). The company has not entered into any offtake agreements at this time.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Other | Pre-revenue mineral exploration/development company - no commercial pricing tiers |
| Unit Pricing | Other | Future Base Case: Concentrate sales to third-party refiner |
| Unit Pricing | Other | Future Alternate Case: Vertically integrated metal sales |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels7 records
Bravo Mining product offering
Product offeringCore offering
Bravo Mining Corp. is a pre-revenue mineral exploration and development company advancing its flagship, 100%-owned Luanga PGM + Au + Ni Project in the Carajás Mineral Province of Pará State, Brazil. The company's core offering centers on defining and developing a multi-million-ounce palladium-platinum-rhodium-gold-nickel resource (10.4 Moz PdEq M&I + 5.0 Moz PdEq Inferred per 2025 MRE), supported by diamond drilling, geophysical surveys, metallurgical testing, and technical studies that underpin a 2025 PEA outlining NPV8% of US$1.25B (Base Case) and US$1.86B (Alternate Case). A newly established Copper-Gold Exploration Division extends the asset portfolio with IOCG-style exploration optionality.
Product overview
Bravo Mining Corp. (TSX.V: BRVO; OTCQX: BRVMF) is a single-asset mineral exploration and development company whose offering is anchored by the flagship Luanga PGM+Au+Ni Project in Brazil's Carajás Mineral Province. Its product portfolio is structured around one core asset (the Luanga PGM+Au+Ni Project), which is supported by a suite of technical and economic deliverables including the 2025 Mineral Resource Estimate (MRE) for Luanga, the Preliminary Economic Assessment (PEA) for Luanga, and the 2026 Luanga Field Season Drilling & Geophysics Program. A newly formed Copper-Gold Exploration Division operates alongside the core PGM+Au+Ni asset to pursue IOCG-style copper-gold opportunities within the same licences. Together these elements form a progression from resource definition (MRE) through economic study (PEA) toward a Pre-Feasibility Study and ultimate development.
Differentiator
Problem solved
Functional benefit
Brands
- Luanga Project: Flagship PGM + Au + Ni Project located in the Carajás Mineral Province, Brazil.
Products and services
- Luanga PGM+Au+Ni Project 100%-owned, multi-million-ounce Tier 1 PGM (palladium + platinum + rhodium) + gold + nickel deposit located in the world-class Carajás Mineral Province of Brazil. Hosts a Mineral Resource Estimate totalling 10.4 Moz PdEq in Measured & Indicated plus 5.0 Moz PdEq Inferred along an 8.1km strike, supporting a long-life open-pit operation advancing toward a Pre-Feasibility Study targeted for Q3 2026.
- Copper-Gold Exploration Division Dedicated division created in February 2026 to pursue IOCG (Iron Oxide Copper Gold) copper-gold exploration within Bravo's 100%-owned Luanga licences in Brazil's Carajás Mineral Province. Led by Fabio Masotti (formerly Vale S.A. Director of Exploration), with a mandate to evaluate copper-gold growth and acquisition opportunities in the region.
- Preliminary Economic Assessment (PEA) for Luanga Independent NI 43-101 Preliminary Economic Assessment (effective date July 7, 2025) on the Luanga PGM+Au+Ni deposit, evaluating a 17-year open-pit mine at 27,700 tpd processing capacity. Base Case (Concentrate Sales) yields after-tax NPV8% of US$1.25B with IRR of 49.7%; Alternate Case (Vertical Integration) yields after-tax NPV8% of US$1.86B. Underpins advancement toward a Pre-Feasibility Study.
- 2025 Mineral Resource Estimate (MRE) for Luanga NI 43-101 compliant Mineral Resource Estimate (effective date February 18, 2025) prepared by GE21 Consultoria Mineral Ltda. Reports 158 Mt grading 2.04 g/t PdEq for 10.4 Moz PdEq in Measured + Indicated and 78 Mt grading 2.01 g/t PdEq for 5.0 Moz PdEq Inferred, with metal contributions of 47% Pd, 25% Pt, 13% Rh, 13% sulphide Ni, and 2% Au. Supported by 108,343 metres of drilling across 531 holes.
- 2026 Luanga Field Season Drilling & Geophysics Program 28,000-metre 2026 field season program at the Luanga PGM+Au+Ni deposit in Brazil's Carajás Mineral Province, comprising 22,000m of infill and extensional drilling (to convert Inferred resources to Measured & Indicated and test resource expansion below 200m depth) plus 6,000m of exploration drilling at newly identified regional and deep targets. Includes micro-gravity surveys and deep induced polarization surveys across six priority areas. Supports a Pre-Feasibility Study targeted for Q3 2026.
Quantifiable outcome
- 10.4 Moz PdEq Measured + Indicated + 5.0 Moz PdEq Inferred mineral resource (2025 MRE)
- +8 more outcomes
Companies that use Bravo Mining
Customer profileNamed customers1 record
Ideal customer profiles1 record
Bravo Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Bravo Mining partnerships and signals
Strategic signalPartnerships
Three partnerships are on record.
- World Platinum Investment Council (WPIC)Bravo Mining is the first pre-production member of WPIC, joining leading PGM producers Anglo American Platinum, Impala Platinum (Implats), Northam Platinum, Sedibelo Platinum, and Tharisa. WPIC is a global market authority on physical platinum investment formed in 2014 by leading South African platinum producers. Membership provides access to platinum market intelligence and investor demand stimulation programs.
- KPMG LLP (Canada)Independent auditor for Bravo Mining Corp. Re-appointed at June 4, 2026 AGM (99.98% votes for). Located at Bay Adelaide Centre, 333 Bay St. #4600, Toronto, ON M5H 2S5.
- Computershare Investor Services Inc.
Scale indicators15 records
Recent moves6 records
Expansion highlights5 records
Bravo Mining competitors and assessment
Company assessmentDirect peers
- Platinum Group Metals Ltd. Canadian-listed PGM developer advancing the Waterberg PGM project in South Africa. Closely comparable to Bravo as a junior, single-asset PGM-focused developer with large NI 43-101 resources, mine-permitting challenges, and reliance on third-party smelter offtake.
- Generation Mining Limited: Canadian-listed developer of the Marathon PGM-Cu project in Ontario. Highly comparable: PGM-copper developer with positive PEA-level economics, similar cap structure, and downstream concentrate offtake design.
Broad incumbents
- Sibanye-Stillwater Limited: Largest primary PGM producer globally (Rustenburg, Stillwater, Kroondal). Provides the PGM pricing and demand benchmark against which Bravo's PEA payabilities and AISC are evaluated.
- Impala Platinum Holdings Limited (Implats): Major PGM producer operating Impala, Marula, and Zimplats mines. A natural counterparty reference point for the smelter/refiner economics and PGM pricing benchmarks that underpin Bravo's Base Case.
- Anglo American Platinum Limited (Amplats): World's largest primary PGM producer (Mogalakwena, Amandelbult). Co-founder and member of the World Platinum Investment Council alongside Bravo; comparable on market positioning and PGM investor demand visibility.
- Northam Platinum Holdings Limited: South African PGM producer with comparable open-pit and underground PGM+base-metal exposure. Useful peer for benchmarking AISC, payabilities, and project-development timelines.
- Tharisa plc: Integrated PGM-chrome producer with open-pit mining and on-site concentrator economics analogous to Bravo's contemplated Base Case. Comparable on cost structure and open-pit PGM+base-metal metallurgy.
- Vale S.A. Operator of the Carajás Mineral Province and Bravo's largest Brazilian mining neighbour. Relevant comparable for permitting timelines, infrastructure, ESG expectations, and the talent pool from which Bravo hired its Cu-Au division head.
Emerging players
- Ivanhoe Mines Limited: Multi-asset developer (Kamoa-Kakula copper, Platreef PGM-Ni-Cu in South Africa). Highly comparable development-stage peer with Tier-1 resource grade, strong institutional backing, and a Pre-Feasibility/DFS pathway in southern Africa.
Regional players
- Ero Copper Corp. Canadian-listed mid-tier copper producer with primary assets in Brazil (MCSA Mining Complex). Comparable as a Brazilian-focused, growth-oriented TSX-listed miner navigating the same permitting, fiscal, and capital-markets environment as Bravo.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Bravo Mining social profiles
Digital presenceBravo Mining compliance and trust
Trust signalCompliance1 record
Bravo Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bravo Mining leadership team
Management profileNumber of profiles
Profiles10 records
Bravo Mining subsidiaries and ownership
Company hierarchySubsidiaries1 record
Bravo Mining funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bravo Mining M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bravo Mining
What does Bravo Mining do?
Bravo Mining Corp. is a pre-revenue mineral exploration and development company advancing its flagship, 100%-owned Luanga PGM + Au + Ni Project in the Carajás Mineral Province of Pará State, Brazil. The company's core offering centers on defining and developing a multi-million-ounce palladium-platinum-rhodium-gold-nickel resource (10.4 Moz PdEq M&I + 5.0 Moz PdEq Inferred per 2025 MRE), supported by diamond drilling, geophysical surveys, metallurgical testing, and technical studies that underpin a 2025 PEA outlining NPV8% of US$1.25B (Base Case) and US$1.86B (Alternate Case). A newly established Copper-Gold Exploration Division extends the asset portfolio with IOCG-style exploration optionality.
Is Bravo Mining a public or private company?
Bravo Mining is a public company. It is classified as public and is currently operating.
When was Bravo Mining founded?
Bravo Mining was founded in 2022. It employs 11 to 50 people.
Where is Bravo Mining based?
Bravo Mining is headquartered in Rio De Janeiro, Brazil, in the Latin America region.
How does Bravo Mining make money?
One revenue line is on record: pre-revenue mineral exploration & development.
Who are Bravo Mining's main competitors?
Direct peers on record are Platinum Group Metals Ltd. and Generation Mining Limited. Broad incumbents are Sibanye-Stillwater Limited, Impala Platinum Holdings Limited (Implats), Anglo American Platinum Limited (Amplats), Northam Platinum Holdings Limited, Tharisa plc and Vale S.A.. Ivanhoe Mines Limited is listed as an emerging player. Ero Copper Corp. is listed as a regional player.
Does Bravo Mining have an API?
No public API is recorded for Bravo Mining.
What industry is Bravo Mining in?
Bravo Mining's product category is Mineral Exploration and Mining. Its primary akta.pro industry code is IMAKAEAI, Precious Metals Exploration & Project Development, with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 212290 and its SIC code is 1000.