On September 14, Australia-based miner Sundance Resources Ltd (Sundance) announced that it has entered into a memorandum of understanding (MOU) with China Harbour Engineering Company Ltd (CHEC) to establish the scope, cost and delivery program for the proposed bulk materials port at Lolabe, Republic of Cameroon.
The MOU commits the parties to work together to establish the scope, cost and program for the delivery of a port project to support planned output of 35 million mt of iron ore from Sundance's proposed mines and to lay out the terms of a contract under which CHEC would deliver the project.
At the conclusion of this work, the parties may enter into a delivery contract for the project, neither party being bound to do so. The MOU recognizes that the port project will be integral with the mine project itself and the Lolabe port development project.