RE: RNS2 Apr 2026 07:02
Highlights
· Permitted early works and procurement activities continue at the Azteca Plant
· Remaining Installation Licence workstreams with Instituto do Patrimônio Histórico e Artístico Nacional ("IPHAN") and State of Amapá Environmental Authority SEMA/AP continue to advance
· IPHAN has confirmed that no additional archaeological field studies are required in the previously impacted areas
· The remaining archaeological workstream is now focused on finalisation of the Termo de Ajustamento de Conduta ("TAC") process as the route to IPHAN clearance to SEMA
· The Project remains in execution readiness for Azteca refurbishment and commissioning activities, subject to receipt of the required permits
Kiran Morzaria, Chief Executive Officer of Cadence Minerals, commented:
"The path to licence is now clearer, narrower and lower risk than before. The outstanding workstreams are now well identified and continue to advance through the regulatory process
Importantly, IPHAN has confirmed that no additional archaeological field studies are required in the previously impacted areas. In practical terms, this moves the remaining archaeological workstream onto a defined regulatory pathway through the TAC process, rather than a broader technical process, which we view as an important step in de-risking the path to LI.
Alongside this, permitted early works and procurement continue at Azteca, preserving execution readiness and supporting a rapid move into refurbishment activity once permitting is in place. Subject to permitting and execution, we believe commissioning by the end of June 2026 remains achievable, with Azteca representing the first stage in unlocking near-term cash flow and the broader value of the Amapá Project."
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