Cadence Minerals plc announced the receipt of initial construction funds on May 25, 2026, to restart the Azteca Plant at the Amapá Iron Ore Project in Brazil.

Project operator DEV finalized clarification documents requested by the offtaker regarding license sequences and funding drawdowns, allowing the execution of the primary contractor agreement. Contractors scheduled mobilization to achieve full deployment during the second week of June.

A one-month delay in securing the Installation License, granted on May 5, adjusted the commissioning timeline. Refurbishment completion is now projected for late July under an accelerated schedule, or late August with standard contingencies.

The operation aims to extract 380,000 tons of high-grade iron ore concentrate annually from existing tailings, generating early cash flow for the asset.