Cadence Minerals plc has identified savings of approximately US$28 million, or 24%, on the cost of refurbishing the port at the Amapá iron ore project in Brazil.
UNLOADING
The figure follows the company’s review of the scoping study, completed in March, and integration into the original pre-feasibility study published in January this year.
“The savings were derived by moving the current rail loop, which is used for unloading iron ore at the port so that it is one hundred metres further inshore,” said Cadence in a statement.
“The change in the location of the railway loop reduces the load on the ground near the shore and negates the installation of a substantial retaining wall.
“This change in the rail loop will also require a reorientation of the onshore iron-ore storage and loading system.
“The net of these two capital items is anticipated to result in a net capital saving of $28 million.”
Cadence added that the results needed to be confirmed once the project advanced with further geotechnical investigations.