Australian miner Sundance Resources has announced that it will carry out two concurrent processes regarding the development of its Mbalam-Nabeba iron ore project in Cameroon, one for a mining joint venture and supply contracts and the other for the development of infrastructure.
Sundance Resources recalled that the feasibility study for the project has been completed and that all the environmental permits are in place.
As SteelOrbis previously reported, in April this year Sundance Resources terminated the takeover agreement with Hanlong Mining, a subsidiary of Sichuang Province-based Chinese industrial conglomerate Sichuan Hanlong (Group) Co., under which Hanlong was to have acquired 100 percent of Sundance, because the funding condition was not met and after being informed by Hanlong that it was unlikely to meet the other required conditions.