Cameroon: Mbalam Iron Ore - Chairman Of Sundance Resources Briefs PM Inoni
Cameroon Tribune (Yaoundé)
13 February 2008 Posted to the web 13 February 2008
Emmanuel Kendemeh
The Chairman of the Australian company, Sundance Resources Ltd, George F. Jones was received in audience by Prime Minister Head of Government, Ephraim Inoni yesterday 12 February. Their discussions focused on the remaining phases to be covered before the start of extraction of the Mbalam iron ore in deposits located in the south east of Cameroon.
A private Cameroonian company, CAM IRON obtained an exploration permit in September, 2005 to carry out a thorough search of iron ore deposit in the Mbalam. Sundance Resources Limited, acquired 90 per cent of the shares in CAM IRON in 2006 based on its commitment to provide the financing and development expertise required to implement the project. With the commitment, the Chairman of the Australian company was therefore at the Star Building to brief Cameroon's Head of Government on the evolution and steps that need to be taken so that the construction of infrastructure for the iron ore extraction begins in 2009. Mr George F. Jones disclosed to journalists after the audience that they were currently evaluating the quantity and quality of the iron ore in Mbalam. He said other phases of the project consists in signing agreements with the government and looking for investors in view of obtaining finances.
Before meeting Prime Minister Ephraim Inoni, George F. Jones had earlier had discussions with Cameroon's Minister of Industry, Mines and Technological Development, Badel Ndanga Ndinga.
SDL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
