UK-based Cadence Minerals has announced further progress on the restart of the Azteca processing plant at the Amapá iron ore project in Brazil, following the receipt of the first construction funding tranche and the advancement of contractor mobilization activities.
The company said the initial construction funding tranche was received on May 25, 2026, after the completion of clarification documentation requested by the project's offtaker concerning licensing sequencing and funding drawdowns.
Contractor mobilization to begin in June
According to the company, project operator DEV has executed the primary contractor agreement and expects initial mobilization activities to commence next week, with full contractor mobilization scheduled for the second week of June.
The restart program entered the execution phase after the project received its Installation Licence from the environmental authorities in early May, authorizing approved refurbishment, construction and installation works at the Azteca facility.
Operational readiness activities continue
The company stated that DEV has continued to strengthen project readiness through the recruitment of senior operational personnel for both mining and processing operations.
Additional environmental and licensing advisory support has also been engaged as work continues toward obtaining the final operating approvals required before commercial production can begin.
Cadence Minerals CEO Kiran Morzaria said that recent site visits demonstrated encouraging progress in execution planning, staffing and operational preparedness.
The company now expects:
- commissioning by the end of July 2026 under an accelerated execution schedule,
- or by the end of August 2026 when standard operational contingencies are included.
Based on the current project schedule, commissioning activities are expected approximately 60 days after receipt of the initial funding tranche under the accelerated scenario, or approximately 90 days under the standard schedule.
Final operating license still required
Before commercial operations can begin, the project must obtain an Operating Licence, which forms part of Brazil's standard environmental licensing framework.
Cadence Minerals said workstreams supporting the LO application are already underway and focus on demonstrating compliance with the conditions attached to the Installation Licence as well as broader operational readiness requirements.
