has this been posted before - cameroon news, page-5

Just cut and paste the article....

I like how they started with SDL the AUSTRALIAN MINING GIANT...

Sundance Resources Limited (ASX: SDL), the Australian mining giant committed to the Mbalam IronOre project budgeted 20.8 Billion FCFA towards the first stage of the project. The Mbalam Iron ore project is projected to need a 520Km railway line from Mbarga and a 70 Km from Nabeba to the Deepwater seaport in Kribi.


The first stage of the project is granted to China Harbor Engineering Company and CRCC CHina-Africa Construction Company, two Chinese multinational companies.

In line with the 2010 presidential memorandum, China Harbor Engineering Company and CRCC CHina-Africa Construction Company will be incharge of building the deepwater seeaport and railway line and rolling stocks for mined ore transportation.

The commitment of the XAF FCFA 20.8 Billion ganrantees a smooth start on the first phase of the Mbalam iron Ore project, starting 2014.

The Mbalam Iron Ore project is expected to position Sundance Resources Limited (ASX: SDL) on the world’s top ten iron ore producers and enable Sundance Resources Limited (ASX: SDL) to secure longterm supply contracts with countless steel producers.

For the Cameroonian grassroots population, much is yet to be seen as to the effect and contribution of this project to the local economy. The general population understands little of the process and securing jobs is a far dream for them.

The problem is compounded by the contracted Chinese companies that make it a point to utilize imported Chinese workers for all levels of the construction. Given that it is a for-profit corporation, they can not to blamed for using cheap labor from China.


Read more: http://news.cameroon-today.com/sundance-resources-limited-asx-sdl-budgets-fcfa-20-8-billion-xaf-towards-the-first-stage-of-the-mbalam-iron-ore-project-in-kribi-cameroon/8138/#ixzz20OeCLGiA
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