top of page

Cadence Minerals: Enhanced Project Value and Green Iron Success

We are pleased to share significant news from Cadence Minerals (AIM: KDNC) that promises to shape the future of sustainable mining. Cadence has just released the results of an updated economic study on the Amapá Ore Project, and the numbers highlight the project’s potential and positive impact.

Key Highlights:

  • Increased NPV: The post-tax Net Present Value (NPV) has soared by 20%, reaching a remarkable US$1.145 billion at a 10% discount rate.

  • Higher Production: Average production after ramp-up is projected to rise by 10%, achieving 5.82 million dry metric tonnes per annum (Mtpa) of Fe concentrate.

  • Reduced Costs: Free on Board (FOB) C1 Cash Costs have decreased by 6%, bringing them down to US$33.5/dmt at the port of Santana.

  • Improved Returns: Post-tax Internal Rate of Return (IRR) has jumped from 34% to an impressive 42%.

  • Environmental Progress: The port’s environmental licensing is on track, with submissions due this quarter.

  • Innovative Green Iron Flow Sheet: Testing of the 67% Fe "Green Iron" flow sheet has commenced, with promising results expected by the end of September 2024. Success here could elevate the project's annual net operating profit from US$227 million to US$324 million.

A Message from Cadence CEO, Kiran Morzaria:

"On behalf of our Board, I am thrilled with the positive outcomes from the updated economic study at the Amapá Ore Project, along with further significant progress made at Amapá. The increased net present value of US$1.145 billion and the enhanced post-tax internal rate of return demonstrate substantial improvements to the Project's already robust economics.


The ongoing development of the 67% 'Green Iron' processing flow sheet and the Project's 100% renewable power source exemplify our commitment to propelling Amapa forward to meet the growing demand for low-carbon iron ore and steel, while at the same time demonstrating a potential 43% uplift in projected annual net operating profit.


We are optimistic about the potential of the Amapá Iron Ore Project and look forward to providing further updates on our progress in the future."

This announcement underscores Cadence Minerals' commitment to sustainable development and innovation in the mining industry. The Amapá Project not only promises substantial economic returns but also sets a new standard for environmentally conscious mining practices with its pioneering Green Iron flow sheet and renewable energy usage.

Cadence Minerals


bottom of page