The Commercial Court of São Paulo has ruled that DEV Mineração, the owner of the Amapá iron-ore project could start shipping stockpiled iron-ore, marking a major milestone for the reopening of the iron-ore mine that once belonged to diversified miner Anglo American.
London-listed Cadence, which is buying a stake in Amapa, announced the court ruling on Tuesday, and said that the project’s joint venture (JV) partners were in discussions for potential offtake contracts to begin shipments "as quickly as possible".
The first shipment from the stockpile should be in late in the second quarter or early in the third quarter of this year. These timelines were dependent on the ongoing and future impacts of Covid-19, Cadence cautioned.