June 22, 2011 National - Economy (Today EST) A delegation of Sundance Resources Ltd is in Cameroon to meet with authorities and provide an update on the progress of the project. "George Jones, chairman of the board of Sundance Resources Ltd and the accompanying delegation are in Cameroon to reassure the government that the proposed Iron Cam is about to change phase. It moves from theory to practice. " So said yesterday, Roger Bogner, Chief Executive Officer of Cam Iron, the company under Cameroonian law responsible for the operation of iron Mbalam. According to him, the whole organization of the project is in place. It is waiting for the conclusion of the mining agreement and signing of agreements with strategic partners to begin construction on the site. The financing of transport infrastructure, including the construction of the railway to enable the delivery of mines operating site to the coast of Cameroon has so far delayed the signing of the mining agreement. According to the Minister of Industry, Mines and Technological Development, Badel Ndanga Ndinga a formula has been found that could fix the government and project proponents. Cam Iron has just completed the feasibility study. It shows that "the development prospects for residents, businesses and countries are very interesting." The impact of the operation of the iron will of Mbalam corporate taxes, royalties, wages, tariff revenues, the purchase of local goods and services through outsourcing, etc.. The project is estimated at 484 million tonnes of rich iron and 2.32 billion tonnes of iron enrichment. The project cost is estimated at 2,000 billion CFA francs. Financing operations are part of the agreements being negotiated with the strategic partner. Roger Bogner said that the Chinese experience could be sought because China is the biggest consumer of iron in the world. For this reason also that Asia is a major outlet for iron Mbalam. Ultimately, it is envisaged the creation of a processing plant at Kribi, so that the premises may have the raw material at hand.
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