Business
Amapá Iron Ore Project Update
Amapá Iron Ore Project Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n\nCadence Minerals Plc\n(\"Cadence Minerals\", \"Cadence\", or \"the Company\")\n \nAmapá Iron Ore Project Update\n \nCadence Minerals (AIM/AQX: KDNC; OTC: KDNCY) is pleased to provide a progress update for its flagship Amapá Iron Ore Project (\"Amapá Project\"), including an expedited operational licensing and re-rating of our tailings storage facility.\n \nHighlights:\n· The expected licensing timeline for the mine, railway and port at the Amapá Project team has been shortened to12 to 16 months compared to a typical timeline of up to 36 months.\n· The revised timeline is expected to result in the grant of mine Installation Licenses (\"LI\") over the wholly owned port, railway, beneficiation plant and mine during the course of 2024, followed by an operational license (\"LO\") after construction is completed.\n· The Amapá Tailing Project (\"TSF\") is approaching the lowest operational risk rating to date as a result of maintenance, reporting, drilling, and compliance work carried out since 2019\n· Following the management team's recent visit to Amapá, CEO Kiran Morzaria will present the most recent developments at a Shares Magazine investor evening on Wednesday, 13 September.\n· Executive Summary of Pre-Feasibility Study Released and available here\n \nCEO Kiran Morzaria commented: \"We are delighted with the progress we saw first-hand in our recent visit to Amapá. Agreeing a shortened route to the operational licence is key to getting the Amapá Project back into production in the shortest time possible.\"\n \n\"I look forward to presenting the latest developments at the upcoming Shares Magazine investor evening and reporting to the markets with further progress after that.\"\n \nLicensing Update\nWhile the Amapá Project was operating, it held all the necessary permissions to mine, process, transport and ship some six million tonnes of iron ore annually. However, many of these licenses lapsed after it ceased operations in 2014. Cadence has been working alongside the team at the Amapá Project to obtain these licenses and permissions. To date, we have reinstated and extended the railway concession to 2046 (completed in December 2019) and been granted a change of control over ...