Cadence Minerals plc expects its Azteca processing plant to be begin operations by the end of August 2026 at the Amapá iron ore joint venture in northeast Brazil.
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Personnel, equipment and site resources have arrived on schedule at the site, and refurbishment has started.
The company said that works cover key processing systems, including plant feeding and magnetic separation.
Other activities include electrical works, structural inspections, access rehabilitation, equipment inspection, refurbishment of mechanical components, electrical panel works and associated infrastructure preparation.
Cadence continues to await the grant of an operating licence to allow the start of commercial operations.
Chief executive officer Kiran Morzaria added: “The significance of the progress made since receipt of the installation licence is not simply that refurbishment activities have started.
“It is that the project has transitioned from planning into delivery.
“Our focus remains on completing the refurbishment programme safely, maintaining schedule discipline and progressing the requirements necessary to support operational readiness and commercial operations.”
As of the end of March 2026, Cadence’s investment in Amapá was approximately US$16.1 million (£12m), representing a 36.2% equity stake.