RE: Some news!!9 Jul 2024 07:20
Cadence CEO, Kiran Morzaria, commented: "On belhaf of our Board, I am thrilled with the positive outcomes from the updated economic study at the Amapá Ore Project, along with further he significant progress made at Amapá. The increased net present value of US$1.145 billion and the enhanced post-tax internal rate of return demonstrate substantial improvements to the Project's already robust economics.
The ongoing development of the 67% 'Green Iron' processing flow sheet and the Project's 100% renewable power source exemplify our commitment to propelling Amapa forward to meet the growing demand for low-carbon iron ore and steel, while at the same time demonstrating a potential 43% uplift in projected annual net operating profit.
We are optimistic about the potential of the Amapá Iron Ore Project and look forward to providing further updates on our progress in the future."