Cadence Minerals Announces Major Cost Reductions at Amapá Iron Ore Project

Cadence Minerals ( (GB:KDNC) ) has provided an update.

Cadence Minerals has announced a significant reduction in mining costs at its Amapá Iron Ore Project in Brazil, with mining costs decreasing by 36.7% and FOB costs by 19.2%. This reduction is expected to save approximately US$33.3 million annually and US$500 million over the life of the mine, positioning Amapá among the lowest-cost iron ore producers globally. The project aims to produce a premium DR-grade iron ore product, which is anticipated to capture higher market pricing, thereby enhancing competitiveness and reducing project risk as it progresses towards development.

More about Cadence Minerals

Cadence Minerals is a company involved in the mining industry, focusing on the extraction and production of iron ore. The company holds a 35.1% equity interest in the Amapá Iron Ore Project located in northern Brazil. This project is a fully integrated operation with established mine, rail, port, and beneficiation infrastructure, aiming to produce a premium DR-grade iron ore product.

Average Trading Volume: 1,037,666

Technical Sentiment Signal: Sell

Current Market Cap: £5.78M

For an in-depth examination of KDNC stock, go to TipRanks’ Overview page.