On September 8, Australia-based miner Sundance Resources Ltd (Sundance) announced that it has entered into a memorandum of understanding (MOU) with CRCC China-Africa Construction Limited (CAC) to establish the scope, cost and delivery program for the railway track and rolling stock needed to support Sundance's Mbalam project in Cameroon and Congo.
CRCC China-Africa Construction Limited is a subsidiary of Chinese state-owned construction company China Railway Construction Corporation Limited.
The memorandum was signed for CAC by its chairman Chen Xiaoxing and for Sundance by its board chairman George Jones.
The MOU commits the parties to work together to establish the scope, cost and program for delivery of track and rolling stock sufficient to support planned output of 35 million mt of iron ore from Sundance's proposed mines and to agree the terms of a contract under which CAC would deliver the mine rail 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 mine rail project will be integral with the mine project itself and the Lolabe port development project.