CAMEROON GOVERNMENT DECLARES MBALAM RAIL CORRIDOR:: Sundance Resources Limited (Sundance or the Company) (ASX: SDL) is pleased to announce that its plan to develop the world’s next major iron ore province has progressed with the Government of the Republic of Cameroon confirming that the land identified for the proposed rail corridor which links the Mbalam Project to the Lolabe Port has been declared Land for Public Utility. The declaration was made by Cameroon’s Ministry of Property and Land Tenure. It covers the corridor from the Mbalam mine site to Sundance’s planned deep water iron ore terminal at Lolabe at the Kribi port area. The decision paves the way for the government to secure the necessary land required for building the Mbalam rail line. This will be done through a formal process led by a committee appointed by representatives of each of the six affected regional districts: Vallée du Ntem, Océan, Mvila, Dja et Lobo and Haut Nyong. This decision also freezes all further property transactions and construction permits along the proposed rail corridor. The process will now include: • A survey of the land, existing buildings and improvements along the proposed railway line; • Compilation of current and pending property titles in the affected areas; • A cadastral survey to delineate the railway corridor boundaries. The committee will then refer its final report back to the Ministry of Property and Land Tenure, which will determine expropriation and compensation. This process is expected to take approximately six months. Expropriation will enable the Government to grant Sundance’s Cameroonian subsidiary Cam Iron (or an affiliate) the rights to the land necessary to construct and operate the railway, in accordance with the Mbalam Convention currently being negotiated between the Government of Cameroon and Sundance. This declaration ensures all land required for the project is either subject to a Declaration of Public Utility or a Mining Permit Application and is a significant step forward to securing all land leases required in Cameroon. The declaration of public utility for the Kribi port area (which includes Lolabe) was announced in 2010 and environmental approval for the rail, port and mine was granted in 2010. Sundance CEO and Managing Director Giulio Casello said the Cameroon Government has once again demonstrated its ongoing support for the Mbalam Iron Ore Project. “We thank the Government of Cameroon and specifically the Minister of Property and Land Tenure for making this declaration,” Mr Casello said. “This declaration demonstrates the Government’s desire to finalise agreements required to commence the development of the Project.”
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