en.Wedoany.com Reported - Cadence Minerals Plc (AIM: KDNC), a mining development company listed on the London Stock Exchange's AIM market, announced on July 7, 2026, that the weighted physical progress of the Azteca plant refurbishment at its Amapá iron ore project in Brazil has reached approximately 48%, exceeding the planned progress of 41% for the same period. The company maintains its target of achieving operational readiness by the end of August 2026.

Cadence Minerals Plc is a mining company focused on the development and investment of mineral resource projects. The Azteca plant, which has achieved this progress, is the initial production facility for the Amapá iron ore project. It is planned to process historical tailings through recommissioning, targeting an annual production of approximately 380,000 tonnes of concentrate with an iron grade of about 65%. The Amapá project has total resources of 276 million tonnes (at 38% iron grade) compliant with JORC standards, including reserves of 195.8 million tonnes (at 39.34% iron grade).

Regarding the specific progress of the refurbishment, of the 64 activities tracked in the current construction plan, 21 have been completed, 10 are in progress, and 33 have not yet started. Across major areas, the bins are approximately 83% complete, the conveyor belt system is about 79% complete, the screening system is around 69% complete, the magnetic separation system is about 35% complete, and the electrical system is approximately 23% complete.

On the critical path for project advancement, commercial operations and product shipments still require an operating license from the environmental authority of the Amapá state. The workflow for the operating license is currently progressing as planned.

Cadence Minerals CEO Kiran Morzaria stated that the Azteca project has moved from the planning phase to a measurable on-site execution phase, with current progress being encouraging. The company is focused on advancing key workstreams as planned, including refurbishment, electrical installation, operational readiness, and regulatory approvals.

To date, Cadence has invested approximately $16.1 million in the Amapá project, holding a 36.2% equity stake. The refurbishment progress of the Azteca plant exceeding expectations helps drive the project toward achieving its operational targets as planned.