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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