UK-based Cadence Minerals has been awarded an installation license (LI) to refurbish the processing plant at the Amapa iron ore project, located in the northern Brazilian state of Amapa.
The permit, issued by the State Secretariat for the Environment (Sema), will allow the partial resumption of operations that have been paralyzed since 2014 due to the collapse of the Port of Santana while the plant was in operation Zamin.
LI will authorize the refurbishment, construction and commissioning of the Azteca plant, the main beneficiation structure of the project.
With a relatively small investment of $4.6 million, including $1.15 million in working capital, the plant will reach a production capacity of 380,000 tons per year, which the company believes will provide enough cash to restore full capacity of 5.5 million tons. tons per year of iron ore concentrate grading 67.5 percent iron, suitable for direct reduction.
A pre-feasibility study developed in 2024 indicated that the net present value (NPV) of the project would be US$1.9 billion over 15 years of operation.
