Cadence reports progress with Azteca restart programme

(Sharecast News) - Cadence Minerals said on Wednesday that mobilisation of the Azteca restart programme at the Amapá iron ore project in Brazil had been completed and refurbishment work was now underway across processing, infrastructure and electrical systems. The AIM-traded company said the programme remained on schedule, with no material slippage reported, and the Azteca plant was expected to be operationally ready by the end of August.

Commercial operations remain subject to receipt of the operating licence.

Chief executive Kiran Morzaria said the project had "transitioned from planning into delivery", with contractors active on site and progress now being measured against execution, commissioning and operational readiness milestones.

Cadence owns a 36.2% stake in Amapá, where Azteca is intended to provide the first operational phase of the wider redevelopment strategy.

At 1153 BST, shares in Cadence Minerals were up 1.49% at 6.8p.

Reporting by Josh White for Sharecast.com.

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