Name of the Project
Amapá iron-ore project.

Location
Amapá, Brazil.

Project Owner/s
Pedra and Branca Alliance (PBA), a joint venture (JV) between Cadence Minerals (33.6%) and Indo Sino (66.4%).

Project Description
The Amapá project is a brownfield integrated iron-ore project. It has mineral resources of 276-million tonnes at 38.33% iron and ore reserves of 196-million tonnes at 39.34% iron. The project comprises the mine, processing plant, wholly owned port and a 194 km railway, all operated by PBA.

A capital expenditure optimisation study, published in March 2024 and conducted at a prefeasibility study (PFS) level, has resulted in a forecast increase in production of about 4.8%, to 5.5-million tonnes a year of iron-ore concentrate, of which 4.51-million tonnes will be a 65% product and 990 000 t/y a 62% product.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The January 2023 PFS delivered an after-tax net present value, at a 10% discount rate, of $949-million and an internal rate of return of 34%.

Capital Expenditure
The PFS-level optimisation study has reduced the cost of the project from $191.7-million to $128.5-million, based on savings in costs associated with the beneficiation plant at Amapá.

Planned Start/End Date
Not stated.

Latest Developments
The JV plans to redesign the mine plan to reduce mining costs.
The revised mine plan and capital expenditure will form the basis of an amended economic assessment at PFS level.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Cadence Minerals, tel +44 20 3582 6636 or email info@cadenceminerals.com.