Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to announce that DEV Mineracao S.A ('DEV') has restarted the sale and shipment of its iron ore stockpiles from Santana,
This shipment represents the first export of iron ore since Cadence vested its equity interest (27%) in the
We expect that this shipment will complete this month, and under the current economic environment, DEV intends to continue with the shipment and sale of its 58% iron ore stockpile. There is currently circa 1.25 million tonnes of DEV stockpile at its port in Santana.
In addition to this shipment DEV has continued to provide ship loading and transport services for the third party owned stockpiles at DEV's port.
About the
Amapa commenced operations in
Production steadily increased to 4.8 Mt and 6.1 Mt of iron ore concentrate product in 2011 and 2012. During this period,
Cadence updated the Mineral Resource Estimate on
Details of Ownership and Joint Venture Agreement
Cadence owns 27% of the
Contact:
Tel: +44 (0) 7879 584153
Forward-Looking Statements
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Such forward-looking statements reect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of
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