Port Kribi will be ready in June-July this year, Cam Gov gave...

Port Kribi will be ready in June-July this year, Cam Gov gave SDL until the end of May 2014 to complete the funding needed to start this project so there are no more excuse for delay...Make it or break it ...

As for negotations, I don't think SDL will release all news by end of 2nd quarter 2014, but there will be news start flowing from March, so expect some turbulence ahead....

If funding is in place, then SP will jump!!!....so watch-out if you short this stock...

Don't forget SDL will take advantage of being the first mover of the new Pilbara..

2014 a pivotal year for the Cameroonian economy
http://www.cameroon-report.com/investissements/632-2014-une-annee-charniere-pour-l-economie-camerounaise.html

Last Updated 24/01/2014

For a country that is emerging in 2035 , Cameroon in the eyes of observers, a decisive negotiate during the year that has just begun turning . Therefore , it presents significant opportunities for domestic and foreign investors.

Yaoundé is indeed committed to ratifying the 2014 Economic Partnership Agreement ( EPA) with the European Union. The signing of this agreement outlines the Cameroonian enterprises to competition from European companies on the Cameroonian market . Whence the need to remain competitive , to upgrade . It is for this reason that President Paul Biya created the Office upgrade businesses and support to improve the competitiveness of the Cameroonian economy program . The latter, which has the support of the European Union, has funding of 6.5 billion F CFA which will benefit 60 local businesses. It will certainly take more to compete .

2014 is a pivotal year in terms of development projects. Indeed, until the second-generation projects announced by President Paul Biya in 2015 , many projects must either achieve or reach their cruising speed. Regarding projects to succeed, we are talking about deep water port of Kribi should welcome its first boat in June-July of the current year . Another project whose outcome is expected this year on the exploitation of iron Mbalam . Sources close to the record indicates that the Cameroonian government gave Sundance Resources Ltd until the end of May 2014 to complete the funding needed to start this project. If successful, the project should , inter alia, the construction of rail and port infrastructure to allow to evacuate iron ore from its production area located in the eastern region of Cameroon to the port of Kribi on the Atlantic coast. Sundance officials argue that agreements relating to the financing of these facilities are currently under negotiation and could be completed by the end of second quarter 2014.

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other news from Kribi...

Cameroon : Works of deepwater Port Kribi completed 70%
Josiane Tchakounte , October 10, 2013

Information provided on Thursday after the meeting of the Steering Committee and monitoring the implementation of the project in Kribi .

This is after nearly four hours in camera that the members of the Steering Committee and monitoring the implementation of the industrial port complex Kribi have exhausted the six items on the agenda for the work of their 13th session. Chaired by Louis Paul Motaze , chairman of the committee meeting held on the site of Mboro , will include an opportunity to take stock of the progress of the project. "It is almost 70% for the first phase of work . Leaving understand that the period of June 2014 to deliver the first phase will be respected , "says the chairman of the steering committee . On the site where he went afterwards with the other committee members, Louis Paul Motaze could appreciate the work progresses. A judgment was marked at the docks where construction workers helped by cranes align boxes .

The work of the first phase of the port, made ??by China Harbour Engineering Company ( CHEC ) since June 2011, concerning port facilities and onshore base , like the access channel to the port, the seawall , the ferry docks , embankments behind the docks for the construction of storage areas and the various networks and direct access to the port. To date , the dam is constructed 90.73 % to 85.23 % embankments , dredging to 74.96 %. The container terminal , it is already made ??79.06 %, the multipurpose terminal to 44.60 % and 84.15 % in North dike . Excavation and pouring of concrete are made ??73.35 %, while the roads and pavements are 64.31 %.

The issue of compensation was not avoided during construction. After over a year of interruption, the payment of compensation has taken on September 12 after the related text has been revised . "A new text was signed , the first beneficiaries have received their money and now need to move on ," said Louis Paul Motaze . However, concern remains within the steering committee: to ensure that the compensation money is not used for other purposes . "We have attracted the attention of the representative of the Minister of Finance on the urgency has to pay the companies that prepare the ground for resettlement ," said the chairman of the steering committee.

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other news from Yaounde, Jan 22

Sundance Resources has narrowed the field to a Chinese state-owned enterprise and a European international construction company as it nears a choice of engineering, procurement and construction contractor for its Mbalam-Nabeba iron ore project in Cameroon-Republic of Congo.

The company expects to award the EPC contract for the project’s port and rail infrastructure in the June quarter.

Construction of 580km of rail lines and a new deepwater iron ore terminal at Kribi in Cameroon are essential parts of the proposed 35Mtpa mine development.

The Australian company has also issued tender documents for financing and building the Mbarga (Cameroon) and Nabeba (Congo) mine plants and infrastructure and begun discussions with contractors on mining services and equipment supply.

Negotiations have progressed significantly on take-or-pay agreements for the project’s total high grade ore output.

It aims to conclude bankable off-take contracts that may be used as security for funding other aspects of the project.