Cadence on track to re-start operations at Azteca in June

Cadence Minerals (KDNC ) continues to make progress with work to restart operations at the Azteca plant, part of its wider Amapá iron ore project in Brazil. 

Detailed mechanical and electrical engineering studies for the Azteca plant have now been completed. 

Planned early activities include structural steel repairs, removal of motors, pumps and other components for refurbishment, and procurement of long-lead items required for recommissioning. Certain of these activities are scheduled to commence in March. These activities fall within the scope of works permitted before the issuance of the installation licence, including maintenance, preservation, inspection, component removal for off-site repair and long-lead procurement.

Procurement requests for critical refurbishment items were launched in March 2026, with contractor mobilisation readiness established for a 90-day execution programme. 

"Completion of the detailed engineering studies marks an important step in moving Azteca towards refurbishment and recommissioning,” said Kiran Morzaria, chief executive of Cadence Minerals.

“The work programme is now supported by an active procurement and mobilisation package, with procurement requests already launched for critical refurbishment items and the contractor team prepared for mobilisation. This is important because it moves Azteca beyond engineering readiness and into practical execution planning, while adding flexibility to the critical path as the remaining Installation Licence workstreams continue to progress. Subject to permitting and execution, Azteca remains central to our phased redevelopment strategy at Amapá, with commissioning targeted by the end of June."

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Subject to receipt of the required licences, recommissioning of Azteca is intended to provide an initial production platform and near-term operational cash flow, while supporting the continued advancement of the wider 5.5 million tonnes per year DR-grade development. It’s an enticing prospect in a rising commodities market, and Cadence’s continued progress is welcome news. Once Azteca is in operation, the company will be in a much stronger position to support further development work.