By Christian Moess Laursen
Cadence Minerals said it has halved the operational licensing timeline of its flagship Amapa iron-ore project in Brazil.
The mining company said Monday that the expected licensing timeline for the mine, railway and port has been shortened to 12 to 16 months, compared to a typical timeline for a greenfield project of 24 to 36 months.
“Agreeing a shortened route to the operational license is key to getting the Amapa project back into production in the shortest time possible,” Chief Executive Kiran Morzaria said.
At 0903 GMT, shares were up 0.40 pence, or 5.8%, at 7.35 pence.
Write to Christian Moess Laursen at christian.moess@wsj.com
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