Cadence Minerals (AIM:KDNC), the AIM-listed mineral development company, has completed mobilisation at the Azteca restart programme within the Amapá Iron Ore Project in Brazil, with refurbishment work now active across key processing, electrical and infrastructure systems.
Contractors are on site and the programme is running to schedule, with no material slippage reported.
Electrical installation remains the critical-path activity, with structural inspections, mechanical component refurbishment, electrical panel works and equipment connections either completed or underway.
The company expects the Azteca plant to be operationally ready by the end of August 2026, though the commencement of commercial operations remains conditional on receipt of an Operating Licence.
Alongside physical works, Cadence and its joint venture partners are advancing environmental compliance and operational planning activities required to support the transition to commercial operations.
"The project has transitioned from planning into delivery," chief executive Kiran Morzaria said, adding that focus remains on "completing the refurbishment programme safely, maintaining schedule discipline and progressing the requirements necessary to support operational readiness."
Azteca is designed to serve as the first operational phase of the broader Amapá development strategy, giving the joint venture an initial platform from which to evaluate further development across the wider project.
Cadence's total investment in Amapá stood at approximately $16.1 million as of the end of March, representing a 36.2% equity stake.
