Ann: Satisfaction of Conditions Precedent, page-12

Chinese iron ore project development for MBA Lahm hold control of it
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2015/7/6 15:53:18 Hits: 22

According to the "Jeune Afrique" magazine website reported July 2, China will be located in Cameroon - Congo between Mba Ram - railway Nabei Ba (Mbalam-Nabeba) related to the development of iron ore 洛拉贝 (Lolabé) region and ore port provide financing support. He said infrastructure projects have been successful and put in one year to seek funding Portuguese Mota-Engil Group companies may be squeezed out of the project.
Given current iron ore prices plummeted, Sanders, President (Sundance) group, Australians Casello want these infrastructure projects connected with the iron transferred to the world's leading iron ore consumer countries - China. This hosted across Mba Ram - Nabei Ba this across Cameroon and Congo (Brazzaville) who both iron ore project in the July 1, 2015 Cameroon government announced Wednesday the infrastructure part of the iron ore project re reverted to Cameroon side, he said to himself "This is easier."
Cameroon government repossessed the territory and the right to build railways Luo Labei ore port is mainly due to Cameroon Prime Minister Phillip kept Young (Philemon Yang) at the June 19 visit by the Chinese infrastructure above will provide financial support promises, although the details of the agreement needs to be finalized and finally signed nearly six months.
Casello president pleased to "Jeune Afrique" magazine Paz bureau, told reporters: "From now on, our focus will be part of the financing for the mining project funding requirements of this part is only part of our commitment to including infrastructure. the inner third of the total project funding requirements. "
For Portuguese companies Mota-Engil Group, the Cameroon government's decision was a complete misery. The group in June 2014 through a tender Sanders Group was selected to assume the total amount of $ 3.5 billion in infrastructure projects, Portugal BTP Group took 12 months for the project to form syndicate, and now they will not be involved in the project . Casello analysis: "The Portuguese companies eventually is likely to be replaced by Chinese companies, Chinese government in the past few non-Chinese companies to provide financial support for the construction project."

Chinese partners
Sanders Group has obtained the Cameroon government two-year extension of its license tenements Convention until July 24, 2017 of. Casello Chinese president hoped the funding part of the project infrastructure can facilitate Sanders Group in China looking for partners. The shrewd old China believes that supporting infrastructure construction of the project in case China does not participate in part of the mining project.
Moreover, Casello president for financial markets, especially in China's financial markets to prepare a series of shows in order to show the new profit model to market the project to attract investors. Sanders Group infrastructure must sign contracts in China and Cameroon within nine months of Mba Lahm (in Cameroon) and 纳贝巴 (in Congo (Brazzaville) Domestic) two iron ore to raise funds. Casello president believes that the term "do not worry", he believed Sanders Group will not be squeezed out by Chinese mining group in the iron ore project.
In Africa - London Mining Summit to be held on the occasion (Conférence Mining on Top - Africa à Londres), Secretary of State in charge of Cameroon Mining Fuh Calistus Gentry said Mba Ram - Nabei Ba include Iron Steel Group will become involved in The Lobi iron ore, iron ore in India three Gurkha government Ngovayang Jindal (Jindal) companies involved in mining projects, including one priority.
(Source: Cameroon Embassy Economic and Commercial)


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