공시 • Nov 27
Cadence Minerals Plc Announces the Metallurgical Test Results Confirming the Ability to Produce High-Purity, Direct Reduction Iron Concentrates at the Amapa Iron Ore Project in Northern Brazil
Cadence Minerals Plc announced the metallurgical test results confirming the ability to produce high-purity, Direct Reduction grade ("DR-grade") iron concentrates at the Amapá Iron Ore Project ("Amapá" or the "Project") in northern Brazil. Highlights: DR grade concentrate produced at 67.5% Fe with total silica and alumina below 1.5%. The process flowsheet has been confirmed to have a PFS level of accuracy. DR concentrate was achieved with a finer grind, magnetic separation and reverse flotation, as outlined in the announcement on 17 September 2024. The forecast premium for DR-Grade concentrate is projected to rise to around USD 20 for each 1% iron content above 65% Fe benchmark. A revised economic model based on the DR-Grade sheet is being prepared. Metallurgical Test Work Programme: Cadence previously announced that Amapá had developed a process flow sheet for producing Direct Reduction ("DR grade") concentrates with combined SiO2 ("silica") and Al2O3 ("alumina") levels below the steel industry's DR grade standard of 2.5%. The initial results from the test work program have validated the Project's process flowsheet's ability to produce DR-grade concentrates. The test results produced a weighted average final product with a concentrate grade of 67.5% Fe and impurity levels of 0.6% SiO2 and 0.8% Al2O3. Furthermore, the iron concentrate grade is expected to be higher and exceed 68% Fe by appropriately adjusting the flotation reagent process parameters. Pei Si Engineering Incorporated ("PSEI") conducted the test work and designed the flow sheet. The primary section of the flow sheet, which aims to upgrade the 65% product to 67%, involves regrinding, magnetic separation, and flotation. The test work was carried out on a +65% iron ore concentrate produced from the Amapá Project. The metallurgical test work established that the optimal flowsheet utilised a regrind, which feeds into a low-intensity magnetic separator ("LIMS"). This process produces two streams: the first stream goes to a reverse flotation circuit, while the second stream is sent to a high-intensity magnetic separator ("HIMS"), followed by a second reverse flotation circuit. The results indicate that using a fine grinding process (with a fineness of -0.045mm at 79.5%)-LIMS-HIMS-flotation, two types of flotation iron concentrates were obtained: Concentrate I and Concentrate II. Concentrate I achieved a yield of 12.31%, a grade of 69.36% Fe, with SiO2 and Al2O3 contents of 0.10% and 0.39%, respectively, and a total iron recovery rate of 12.89%. Concentrate II yielded 70.57%, with a grade of 67.15% Fe, SiO2 content of 0.71%, Al2O3 content of 0.92%, and a total iron recovery rate of 71.55%. The iron concentrate grade is expected to exceed 68% with appropriate adjustments to the flotation reagent process parameters. Upon microscopic examination of the sample, it was observed that the iron minerals were highly liberated, reaching over 90%, with occasional intergrowths of gangue minerals, such as quartz, alongside iron minerals like hematite. Fine grinding can further enhance liberation, which is beneficial for mineral processing to reduce the silica and alumina impurity content in the iron concentrate. It was also noted that phosphorus primarily adsorbs onto hematite, resulting in isomorphous substitutions. Given the iron content (above 67% Fe) and the low levels of silica and alumina impurities (totalling less than 2.5%), this product can be marketed as direct reduced ("DR") grade iron ore concentrate. The DR-grade feed suitable for low-emission steelmaking represents 3% of global seaborne iron ore production. Its availability is crucial for transitioning to "green steel" and decarbonising the iron and steel industry. DR-grade concentrates are used as feedstock for new Direct Reduced Iron /Electric Arc Furnace (DRI-EAF) facilities, replacing older, coal-dependent Blast Furnace /Basic Oxygen Furnace (BF-BOF) operations. High-grade Blast Furnace feed (over 66% iron) is increasingly sought during this transition, as it lowers carbon emissions when blended with lower-grade Direct Shipping Ores (under 62% iron). The metallurgical tests focus on producing DR-grade Concentrates. These concentrates typically contain over 67.5% iron and low levels of impurities like silica, alumina, phosphorus, and sulphur, with a total of below 3%. Testing has been conducted at the pre-feasibility study ("PFS") level. PSEI is currently reviewing the flow sheet outlined in Figure 1 below. The goal is to publish a revised economic analysis at the PFS level incorporating a product stream with an expected purity of 67.5% and an updated NPV.