Iron ore is a crucial raw material for the production of steel, which is used in various industries for various purposes. Some of the main uses of iron ore include:
- Steel Production: Iron ore is the main ingredient in the production of steel, which is used in construction, transportation, machinery, and various other industries.
- Infrastructure Development: Steel is a key component in the construction of buildings, bridges, roads, and other infrastructure, making iron ore a crucial resource for infrastructure development.
- Automotive Industry: Steel is a key component in the production of cars and other vehicles, making iron ore an important raw material for the automotive industry.
- Energy Production: Iron ore is used in the production of iron and steel, which is used in power plants and other energy-generating facilities to produce energy.
- Machinery and Equipment: Steel is used in the production of a wide range of machinery and equipment, including agricultural equipment, mining equipment, and construction equipment, making iron ore an important resource for these industries.
- Household Goods: Steel is used in the production of various household goods, including appliances, cookware, and furniture, making iron ore a crucial resource for these industries.
Cadence Minerals plc (LON:KDNC) is an early stage investment and development company within the mineral resource sector and is listed as an investment company on the London Stock Exchange AIM market and the Aquis Stock Exchange, also based in London. Cadence owns 30% of the Amapa iron ore project, with our joint venture partner, Indo Sino Pty Ltd, owning the remaining 70%.