I think the project is heading in the right direction. It is a US$6 billion funding which takes a bit of getting in place and satisfying the Cameroon Government after 2 previous financing failures. The 4 SOEs have the fire power to fund the project. Also it develops a new source of high grade iron ore controlled by what will ultimately become a Chinese company. The agreement is valid until 30 June 2010. Hopefully the deal will get done long before this date.
SDL Price at posting:
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