What Cadence Minerals PLC does

Cadence Minerals PLC is an AIM-listed (London Stock Exchange International Growth Market, ticker KDNC) mining investment and development company headquartered in London, United Kingdom. The company holds a 35.9% equity stake in the Amapá Iron Ore Project in Brazil, backed by approximately $15.5 million of invested capital. The Amapá project contains JORC-compliant mineral resources of 276 million tonnes at 38% iron with proven and probable reserves of 195.8 million tonnes at 39.34% iron, and benefits from integrated infrastructure including the Azteca processing plant, dedicated railway, and port facilities. Project economics are stated at an NPV of $1.97 billion and an IRR of 56%.

The company's business model centres on developing the Amapá asset in phases: the Azteca Plant restart targets approximately 380,000 tonnes of direct reduced-grade iron ore concentrate annually as a first-phase, with full project capacity planned at 5.5 million tonnes per annum. Revenue, once generated, will derive from commodity sales of high-grade concentrate to steel manufacturers, primarily through offtake agreements. Cadence pursues project financing and offtake partnerships via direct engagement with institutional investors and steel industry counterparties. The company also retains exposure to the Sonora Lithium Project in Mexico, where it is pursuing an arbitration case under the UK-Mexico bilateral investment treaty following Mexico's cancellation of mining concessions and nationalization of its lithium sector, with funding confirmation from LCM Funding SG Pty Ltd.

At present Cadence is pre-revenue and operating with a lean headcount of 1-10 employees, relying on capital partners and project-level contractors (including DEV as project operator at Amapá) to execute development. The go-to-market approach combines regulatory announcements and investor relations communications for capital raising with direct enterprise engagement for offtake agreements. Pricing is not publicly disclosed and will be subject to prevailing iron ore concentrate market pricing once production commences.

Name

Cadence Minerals PLC

Legal name

Cadence Minerals PLC

Website

https://cadenceminerals.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

Cadence Minerals PLC is an AIM-listed mining investment company holding a 35.9% stake in the Amapá Iron Ore Project in Brazil, targeting production of direct reduced-grade iron ore concentrate for steel manufacturers via integrated mining, rail, and port infrastructure.

Ownership category

akta.pro rank

Product category

Iron Ore Mining

NAICS

Iron Ore Mining (212210), Iron Ore Mining (21221)

SIC

Metal Mining (1000)

akta.pro primary industry

Iron Ore Mine Development & Expansion (EPC, Construction, Commissioning) (IMAKAAAB)

akta.pro secondary industry

Mining & Mineral Processing Facility Construction (IMAFADAE)

Keywords

• Iron ore mining
• Mining project development
• Mineral resource investment
• Iron ore concentrate
• Mining project financing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Supply Chain, Personnel

Revenue model

1. Iron Ore Concentrate Sales: Production and sale of direct reduced-grade iron ore concentrate from the Amapá Iron Ore Project. The Azteca Plant targets annual production of approximately 380,000 tonnes of concentrate, with full project capacity at 5.5 million tonnes per annum. Revenue is generated through commodity sales to steel manufacturers.
2. Legal Compensation (Sonora Lithium): Arbitration case related to the Sonora Lithium Project in Mexico, initiated due to Mexico's cancellation of mining concessions and nationalization of its lithium sector. The company seeks compensation under the UK-Mexico bilateral investment treaty.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Cadence Minerals PLC is an AIM-listed mining investment and development company that holds a 35.9% equity stake in the Amapá Iron Ore Project in Brazil, an integrated iron ore mining operation producing direct reduced (DR) grade iron ore concentrate at 39.34% Fe. The project combines the Azteca processing plant, dedicated railway, and port infrastructure to produce and export DR-grade concentrate to steel manufacturers, with phased capacity scaling toward 5.5 million tonnes per annum.

Product overview

Cadence Minerals PLC is a mining investment company holding equity stakes in natural resource projects. The company holds approximately 35.9% stakes in the Amapá Iron Ore Project in Brazil and the Sonora Lithium Project in Mexico. The Amapá project includes the Azteca processing plant along with integrated railway and port infrastructure, targeting production of direct reduced-grade iron ore concentrate. The Sonora project is subject to an arbitration case following Mexico's nationalization of its lithium sector. The portfolio is structured around these two core mining assets at different stages of development.

Differentiator

Problem solved

Functional benefit

Products and services

• Amapá Iron Ore Project Iron ore mining project in Amapá, Brazil, comprising JORC-compliant mineral resources of 276 million tonnes at 38% iron with proven and probable reserves of 195.8 million tonnes at 39.34% iron. The project includes integrated logistics (railway and port) enabling direct concentrate export, with a project NPV of $1.97 billion and 56% IRR. Target customers are steel manufacturers requiring DR-grade feedstock.
• Azteca Processing Plant Iron ore processing plant at the Amapá Iron Ore Project, refurbishment and recommissioning of which targets annual production of approximately 380,000 tonnes of 39.34% Fe iron ore concentrate for steel manufacturers. Plant refurbishment commenced March 2026 with commissioning targeted for end-July or end-August 2026.
• Sonora Lithium Project Lithium project in Mexico currently the subject of arbitration proceedings following Mexico's cancellation of mining concessions and nationalization of the lithium sector. Funding has been confirmed by LCM Funding SG Pty Ltd for the UK-Mexico treaty breach claim.

Quantifiable outcome

• Project NPV of $1.97 billion with 56% internal rate of return
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• DEV (Project Operator)coreImplementation/ SI/ Consulting Partner · 28 May 2026DEV serves as the project operator for the Amapá Iron Ore Project. The operator has executed the primary contractor agreement with mobilization activities expected to commence for the Azteca Plant restart. DEV manages the construction and commissioning timeline which has been pushed back approximately one month to end-July or end-August 2026.

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Centaurus Metals: Australian-listed junior developer advancing the Jaguar iron ore project in Brazil's Carajás region. Most directly comparable peer given overlapping Brazilian iron ore geography, pre-construction stage, and similar infrastructure-driven value proposition.
• Brockman Mining: Hong Kong-listed developer of the Marillana and Ophthalmia iron ore projects in Western Australia's Pilbara. Closely comparable as a publicly listed pre-production iron ore company pursuing infrastructure solutions for tier-1 resource projects.
• IRONRIDGE Resources: AIM-listed junior with iron ore assets in West Africa (Liberia) and lithium exposure. Comparable as a small-cap, multi-commodity mining developer with similar geographic and capital-markets profile to Cadence.
• Strike Resources: ASX-listed junior developing iron ore projects in Brazil and Peru. Highly relevant peer given overlapping Brazil iron ore focus, junior developer scale, and brownfield-style asset profiles.
• Kogi Iron: ASX-listed junior developing the Agbaja cast steel iron ore project in Nigeria. Comparable as a junior iron ore developer focused on steelmaking feed materials with significant infrastructure logistics considerations.
• Champion Iron: TSX-listed producer of high-grade iron ore concentrate (~66% Fe) from the Bloom Lake mine in Quebec. Closely comparable end-market and concentrate-grade thesis, though at a more advanced production stage.
• BCI Minerals: ASX-listed company developing iron ore (Iron Valley) and salt assets. Comparable as an ASX/AIM-relevant iron ore developer with infrastructure-advantaged asset positioning.

Emerging players

• Sundance Resources: ASX-listed developer of the Mbalam-Nabeba iron ore project spanning Cameroon and Republic of Congo. Comparable as an African-focused large-scale iron ore developer with similar greenfield/brownfield infrastructure challenges.

Broad incumbents

• Vale: Brazilian-based global mining giant and the largest iron ore producer worldwide, operating the Carajás complex. Relevant comparator for Brazilian iron ore operating context and benchmark of full-scale economics, though orders of magnitude larger than Cadence.
• Fortescue Metals Group: ASX-listed global iron ore producer operating integrated mine-rail-port infrastructure in the Pilbara. Directly relevant comparator for the integrated logistics/infrastructure moat thesis underpinning the Amapá project's value proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cadence Minerals PLC