Cadence Minerals Affiliate Secures Operating License for Iron Ore Plant in Brazil

05:27 AM EST, 11/10/2026 (MT Newswires) -- Cadence Minerals (KDNC.L) said DEV Mineração obtained a five-year renewable operating license for the Azteca processing plant at the Amapá iron ore project in Brazil. The license, issued by the Amapá State Environmental Secretariat, allows DEV Mineração to process iron ore and unlocks a $1.2 million working capital payment under an existing funding deal, according to a Tuesday release. The British mining investment company, which indirectly owns 36.2% of DEV Mineração, said plant production has begun at a reduced rate, targeting 380,000 tonnes of 65% iron concentrate annually, with the first shipment expected before year-end.