Cadence Minerals has said its pre-feasibility study for the Amapa Iron Ore project in Brazil has delivered ‘robust economics’.
The London-based early stage investment and development company focused on the mineral resource sector said the study confirmed the potential for the Amapa project to produce high-grade iron ore concentrate. Cadence Minerals holds a 30% stake in the Amapa project.
The company said the mine could generate revenue of $9.39 billion over the life of mine, producing profit after tax of $2.96 billion.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.