Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board of Pembridge said:
"The Minto operations have developed significantly since the acquisition of Minto in June 2019 and have withstood the challenges posed to it over the last 18 months by the Covid-19 pandemic and resulting market conditions. The support from the Yukon government and the leadership of the Selkirk First Nation, on whose ground Minto is located, have played an important part in ensuring the success of Minto. The strong support of all the shareholders in Minto and the commitment of the Minto team operating the mine have ensured that today Minto is in a position to pay the first part of the deferred purchase price. I have every confidence that we are now on a secure path of growth and more successes for our investment in Minto."
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Cadence CEO Kiran Morzaria commented, "We are delighted to announce that the first Amapa iron ore shipment has completed and is now en route."
"On behalf of the Cadence board, I would like to put on record our gratitude and appreciation of the tireless efforts of all of those involved in getting this shipment completed in an safe and efficient manner and ahead of schedule. This landmark first shipment from Amapa would not have been possible without the support of the local authorities and the state agencies who have not only assisted us in completing our first shipment but have also made a material difference in our efforts to create ne employment and economic activity in the region."