UK-based Cadence Minerals has announced that refurbishment works at the Azteca plant, part of the Amapá iron ore project in Brazil, are progressing ahead of schedule, with the company maintaining its target of achieving operational readiness by the end of August 2026.
Refurbishment reaches nearly 48 percent completion
According to the statement, the refurbishment program had reached 47.8 percent weighted physical progress as of July 2, 2026, compared with planned progress of 41.0 percent. The current work schedule covers 64 activities, of which 21 have been completed, 10 are in progress, and 33 have not yet started.
Cadence continues to target operational readiness for the Azteca plant by the end of August 2026, subject to completion of the remaining refurbishment works, electrical installation, equipment connection, commissioning preparations and technical handover activities.
The company stated that it has not identified any material schedule slippage against the current works program.
Operating license still required
Cadence noted that commercial operations and iron ore shipments remain subject to obtaining the Operating License (LO) from the State of Amapá Environmental Authority.
According to the company, workstreams supporting the LO application, including environmental monitoring, environmental management and implementation of environmental control plans, are progressing as expected alongside the refurbishment works.
Amapá redevelopment
Cadence said the Azteca plant remains the near-term operational focus within the staged redevelopment of the Amapá project. As of May 31, 2026, the company's total investment in the project stood at approximately US$16.1 million, representing a 36.2 percent equity stake in the Amapá iron ore project.
