Cadence Minerals provides financing to restart AzTeca plant in Brazil

The British mining company Cadence Minerals announced that she had taken a decisive step towards creating an early cash flow on the Amapá Iron Ore project in Brazil. Having concluded an agreement on the financing of an advance payment of $ 4.6 million by signing the main conditions, the company will restart AzTeca plant, repair its facilities and process high -grade tails into an iron ore concentrate. This step strengthens the confidence of investors and lays the basis for an ambitious long -term expansion of the project by 5.5 million tons per year.

The total prepayment amount should be provided by two components:

• Azteca financing: $ 3.45 million per million per million licensing, reconstruction and re-commissioning.
• financing of working capital: $ 1.15 million to cover logistics for the first shipment of 50,000 tons

of the investment, but receive the same proportional economic return. It is expected that the factory in Aztec will have a positive clean cash flow from the very first shipment, generating reinvestment capacities for the larger phase of the Amapá.

productivity of the plant in Aztec

The plant in Azectex, Azztek, Azztek, Azztek, Azztek. Located in Amap, uses magnetic and spiral separation technology. The initial raw materials are two million tons of high-quality Dyke 5 (55 percent FE), while the release will be approximately 380,000 tons per year of the 65 percent FE concentrate after reconstruction.

in the long term Cadence plans to process 28 million tons of historical