article which shows they want sdl bad......

50 cents is a joke when they want sdl bad.

But i reckon we should not give them more than 50% of sdl. and only sell 100% of sdl if it is a ridicously amount. it wouldnt be a good idea. because at least some money is going back into australia and we would still retain some ownership. if hanlong acquires 100% they could become less reliant on bhp and riotinto and deliberately and drive the price of iron ore down to they benefit and once down to a price that they are happy to purchase at. this will be rio tinto and bhp and the likes will make less money, and therefore cut jobs... and so on. Australia relies on mining companies without them we would be like the rest of the world. fmg, bhp and rio tinto should bid for the job. because china buying into sdl could ultimately drive the iron ore price down which is what they want.


Chinese Dragon Mining For the acquisition of Sundance White wholly undeveloped iron ore's third-largest
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Time: July 19, 2011 16:16:39

[July 18, 2011 Beijing] Chinese Dragon Mining has confirmed that Beijing at 5:00 p.m. on July 15 to the Australian listed company, iron ore exploration and development business Sundance Resources Ltd. Corporation (SDL) made wholly tender offer . A $ 0.50 per share purchase price, the acquisition of the total amount of about 1.44 billion Australian dollars.

As the Sundance owns iron ore project in Cameroon Mubarak absolute controlling stake (90% in Cameroon, Congo (Brazzaville) within 85%), which means that once the acquisition is successful Chinese Dragon, Chinese companies will have the world's third largest undeveloped iron ore district. At present, Mubarak iron ore reserves of 2.8 billion tons of proven and potential resources over a hundred million tons, about 50 years for development. The project is expected to begin production in 2014, annual production of up to 50 million tons, ranking fifth in the world. Meanwhile, the project supporting the railways, ports and other transport infrastructure are mine and Chinese companies signed a memorandum of cooperation. The Mubarak expected operating costs of iron ore only 21 U.S. dollars / ton in the international market is extremely competitive. Can be expected, the acquisition, if successful, China's steel enterprises will have a profound impact, but also will greatly enhance the global iron ore market in China the right to speak.

Chinese Dragon Group Chairman Mr. Liu Han pointed out: "the development of Chinese dragon is to the country's development strategy and work closely together! Countries 'going out' strategy on overseas Chinese Dragon Group to implement the strategic plan has far-reaching significance. O'Hanlon Group is implementing the current iron ore overseas strategy, the goal is within ten years become the world's fourth largest iron ore supplier, participation in the international iron ore allocation of resources, competition for global iron ore right to speak, China's imports of iron ore effective checks and balances Stone's three giant suppliers, to resolve long-standing contradiction between iron ore supply and demand imbalance, we believe that enterprise development, we must build for the country of contributing for the enterprise more competitive and win glory for the country! "

The tender offer Chinese dragon seems to just confirm this. Chinese Dragon Mining on March 18 this year through the acquisition of Talbot Group holds 16% of the hands of Sundance shares to 18.6% of the shares to become the single largest shareholder of Sundance, and in just four months after the re-launch a wholly-owned acquisitions . On the acquisition, the project moderator O'Hanlon Mining CEO, Managing Director Dr. Xiao Hui said: "Chinese Dragon Chinese Dragon Mining Group is a wholly owned subsidiary of Chinese Dragon Group out from Sichuan, the land of abundance, and gradually move toward the world and become a global influence business for many years, Chinese Dragon Group always adhere to the 'development of self contribute to the country back to the community' purpose, although the establishment of the Chinese Dragon Mining not long, but every step taken exception solid and we has been adhering to the Group's objective to advance world-class mining group The acquisition for the Chinese dragon is a milestone for China's mineral resources industry is also of great significance in the Mubarak project, from the development of Chinese enterprises to the construction of the powerful combination of birth-related industries will no doubt be a new pattern. O'Hanlon will continue to work to create an environment conducive to survival and development of Chinese enterprises in the larger environment. hope to have more like-minded persons can participate. "

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About Chinese Dragon Group

Sichuan Han Long Group was founded in 1997, Ambrose appointed Chairman of the Board. O'Hanlon Group, a wholly owned and holding more than 30 companies, with assets exceeding $ 36 billion, with annual sales of more than 16 billion yuan and employs more than 12,000. Operations in the mining, energy, medicine, technology, food, chemicals, infrastructure, tourism and real estate. In recent years, Chinese Dragon Group frequently enter the international market of mineral resources, especially in the molybdenum, iron ore, uranium and other urgently needed in China's economic construction and the shortage of mineral resources for a strategic acquisition. From Australia to South Africa, from molybdenum to uranium, Chinese Dragon Group successfully completed more than in overseas mergers and acquisitions, achievement of the domestic private enterprises of the two "first": China's largest private acquisitions in Australia; the first Chinese private enterprises to enter the uranium ore market.

Iron on Mubarak

Mubarak iron ore in West Africa, Central Coast, has more than 2.8 billion tons of proven resources, potential resources of more than ten billion tons, more than 50 years for mining. The project's main hematite are concentrated in the Nabeba and Mbarga mine, two veins of high grade hematite ore are covered in low-grade Tieying above, by open-pit mining. Nabeba hematite resources of direct extension to the ground 150 meters deeper than the Mbarga. Two veins of hematite strip ratio of less than 0.4:1.

The project will begin production in 2014, production is estimated up to 50 million tons annually, ranking fifth in the world

Produced by the project is divided into two programs:

Phase I: 35 million tons per year direct hematite, a period of 10 years. Hematite has been developed for the direct production of the first 10 years, annual production of up to 3,500 tons, with further development, the annual output of up to 50 million tons.

Phase II: 50 million tons per year refined ore for a period of 15 years. Production of high-grade Tieying stone fine ore, the annual output of up to 50 million tons a year.

Sundance has completed the first phase of the final feasibility study, expected annual output of 3,500 tons, capital investment $ 4.7 billion. The second phase of the pre-feasibility report has been completed, expected annual output of 5,000 tons, capital investment $ 3.1 billion.

Mubarak iron ore rail infrastructure around the sound, mine is located 478 km away from the port orientation, transportation from the mine to the terminal period of 28 hours. Project with China Harbour Construction Co., Ltd. and China Railway Construction Engineering Corporation signed a memorandum of understanding.

Peripheral ports have been and Port Works Co., Ltd. China signed a memorandum of understanding involving Lolabe (Cameroon), a large number of resources to port transport, deep-water marine park, open-water pier. Sogreah engineering feasibility study for the port, single port handling capacity of up to 50 million tons a year (to build more parking mouth), the port is designed to accommodate the total number of 300,000 deadweight loading of large mining ship.

If the project is expected by 50 million tons of annual production estimates, capital investment will rise to $ 6.1 billion. With BHP Billiton and Rio Tinto $ 35 per ton compared to the cost of production, Sundance $ 21 per ton production cost is very competitive. Second phase of production is expected to cost $ 3.1 billion needed for construction. The second phase of fine ore production is expected to cost $ 40 per ton.