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Shares Rise as Cadence Minerals Successfully Completes a Capital Expenditure Optimisation Program at the Amapá Iron Ore Project.

Highlights:

 

  • Achieved significant cost savings, with a 33% reduction in capital expenditure for the beneficiation plant.

  • Forecasted increase in iron ore concentrate production at 4.8% to 5.5 Mtpa.

  • Collaboration with joint venture partners to redesign mine plan for further reduction in mining costs.

  • Study completed ahead of schedule, ensuring no delays in project timeline.

  • Commitment to advancing development of 67% Fe product flow sheet.

  • Amapá Project located in Brazil, featuring substantial mineral resources and ore reserves.

  • Robust economic indicators highlighted in published Pre-Feasibility Study (PFS).

 

Cadence CEO Kiran Morzaria commented: "We're thrilled to announce the successful completion of our capital expenditure optimisation program at the Amapá Iron Ore Project. This effort has delivered a substantial 33% reduction in capital costs, saving $63.2 million and forecasted a 4.8% to 5.5 Mtpa increase in iron ore concentrate production.




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