Asset Report
Amapa iron ore mine
Report summary
Amapá is a surface mine owned by DEV Mineração located in the northern Brazilian state of Amapá. The mine started production in December 2007 under the management of its original owners, MMX. In January 2018, a judicial order offered investors the opportunity to place US$2.5 million in escrow in return for an exclusivity period to conclude debt restructuring negotiations and fully acquire Amapá. More than a year later, in mid-2019, UK-based Cadence and Singapore-based IndoSino agreed to form a 27/73 JV named Pedra Branca Alliance to try to revive the project. In October 2022, Cadence increase its stake to 30%. Following the fulfilment of the certain preconditions, Amapá is expected to restart in 2026. Still, we recognise the risks of these preconditions not being met by 2022-23 and, as a result, Amapá's development being delayed.
Table of contents
- Summary
- Key issues
Tables and charts
This report includes 13 images and tables including:
- Detailed map
- Participation
- Marketable reserves (at 01/01/2023)
- Production
- Production
- Operations
- Infrastructure
- Cash costs
- Cash costs
- Capital costs
- Product quality
- Economic assumptions
What's included
This report contains:
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