Cadence Minerals PLC (AIM:KDNC) started Wednesday sharply higher, trading as high as 7.5p, after announcing that the Azteca restart programme at the Amapá Iron Ore Project in Brazil has moved from planning into execution, with mobilisation completed and refurbishment work underway.
The AIM-listed company said personnel, equipment, lifting resources and refurbishment materials have been deployed to the site on schedule. Work is progressing across processing and electrical systems, including plant feeding, magnetic separation, mechanical components, electrical panels and infrastructure preparation.
Management said no material schedule slippage has been identified against the current programme. Cadence expects the Azteca plant to be operationally ready by the end of August 2026, though commercial operations remain dependent on receipt of the Operating Licence.
Chief executive Kiran Morzaria said the project is now “increasingly being measured against execution, commissioning and operational readiness milestones”.
Azteca is intended as the first operational phase of the wider Amapá redevelopment strategy, targeting around 380,000 tonnes per year of approximately 65% iron concentrate from existing tailings, subject to permitting.
