Sundance Cameroon Iron Ore Proj To Continue Despite Fire 08/04/2009 9:11PM
YAOUNDE, Cameroon (Dow Jones)-A senior official of Cam Iron A.S., the Cameroonian partner to Australian Sundance Resources Ltd. (SDL.AU) says its $3.3 billion iron mining project won't be affected by a fire that ravaged the company's headquarters late March.
Sundance Resources owns 100% of Cameroon Iron Co., which itself owns 90% of the Mbalam project in Cameroon's East Region.
Cam Iron General Manager Roger Bogne said a fire broke out in the company's headquarters razing vital sections of the building and destroying key documents for the iron ore project.
"Computer documents and other working files were destroyed, but we still possess data base that will enable us rapidly reconstitute lost information," Bogne told reporters.
The company announced last year that it discovered a total combined, inferred mineral resource of 2.2 billion metric tons of enriched itabirite and direct shipping ore quality hematite in eastern Cameroon.
With production to start by 2011-12, Sundance Resources aims to export and estimated 35 milion-40 million metric tons of ore a year.
-By Emmanuel Tumanjong, contributing to Dow Jones Newswires; +237 7773 1930; [email protected]
SDL Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
