Cadence Minerals said this week it made its first iron ore shipment out of its Amapa state site.
The company said it shipped 45,000 mt of the product out of its iron ore stockpiles in Santana, in the Brazilian north state of Amapa.
The shipment was allowed by a court, following a company’s petition.
Cadence said it hasn’t shipped iron ore since 2015 when it shutdown the site.
The 62 percent Fe iron ore product was sold at a price of CFR $167.05/mt.
Cadence said its subsidiary, DEV’s wholly-owned port, has another 1.3 million mt of iron ore currently stockpiled at the Amapa state site.
Cadence said the buyer is the world’s largest “globally diversified natural resource companies and a major producer and marketer of commodities.”