Cadence Minerals (KDNC ) has made further progress on the refurbishment of the Azteca processing plant at the Amapá iron ore project in Brazil.
Cadence now reports that the refurbishment is 77% complete, and is running ahead of schedule.
The key processing circuits are nearing completion.
The hopper, transfer conveyor and process tank installation have been completed, while screen refurbishment is approximately 98% complete, progressively reducing execution risk across the processing plant.
Critical workstreams progressing are also progressing. Magnetic separation has reached approximately 69% completion and electrical installation approximately 43% completion, with electrical works representing the principal remaining execution focus.
Meanwhile, metallurgical test work has confirmed the proposed processing flowsheet for production of approximately 65% concentrate, establishing the operating parameters for commissioning.
Commercial operations and shipments remain subject to receipt of the operating licence.
"Projects create value through execution,” said Cadence chief executive Kiran Morzaria.
“Advancing from 48% to 77% completion while remaining ahead of schedule demonstrates that the Azteca refurbishment is moving through its critical execution phase as planned. With the metallurgical programme complete, the technical pathway to commissioning is now established. Our focus is increasingly shifting from rebuilding the plant to preparing it for reliable operations, while refining the infrastructure required to support long-term production. Management's priority is straightforward: complete the remaining execution work, secure the operating licence and transition Azteca into commercial operations. Achieving that will establish the first operating platform within the wider Amapá project and position the company for its next phase of development."
View from Vox
As part of a staged redevelopment strategy, Azteca is intended to be recommissioned as the initial production facility at Amapá, targeting approximately 380,000 tonnes per annum of approximately 65% concentrate from existing tailings. This initial production is intended to generate early cash flow to support ongoing operations and the broader development of Amapá.