FYI...This rather bizarre article (dated today) ends with...

FYI...

This rather bizarre article (dated today) ends with questions, not answers.

The body of the text suggests the Cameroon Gov't via it's PM may have used SDL's IP (where SDL signed away its IP to the Gov't as a part of the mid-2015 "Transition Agreement") to China.

Oddly enough, no mention of ANS and/or Bestway Finance Ltd.


MBALAM IRON : WHAT YOU NEED TO KNOW

© Camer.be: Albin NJILO

April 21, 2022 02:31:55

2004 a newly created Australian company takes over the Mbalam iron project. Without any experience, without financial means, Sundance pulls out the largest iron deposit in the world, Mbalam on the Cameroon side and Nabeba on the Congo side.

The mining agreement was signed in 2012 for a start the same year. Until 2015 the Australian junior was not able to find a financial partner to develop the project according to the agreement signed.

Tired of waiting, President Biya sent Prime Minister Philemon Yang to China, who will return with a financing agreement not only for the ore terminal, the Mbalam-Kribi railway, and local iron processing.

The hiccups between Cameroon and China on the financing of projects had delayed the launch of major mining works, five Chinese companies are now in contact with the Presidency of the Republic after the government released the Australian who today brandishes the legal threats to block any initiative to deal with another partner.

It is :
- Yiantian Port Chinese public company specializing in the construction of the ore terminal,

- China Railways Corporation Co (CRCC), a Chinese public company specializing in the construction of railways,

- Metallurgical Construction Corporation (MCC) public companies specializing in iron ore operations,

- the China Baowu Steel Group former public company Baosteel, it is the largest steel manufacturer in China, for the transformation of iron, and finally

- Shanghai Tsingshan Mineral Co Ltd, distribution and transportation of metals around the world, public company based in Shanghai. All owned by the Chinese state.


What does the chairman of the Mbalam iron project steering committee say about Sundance's actions?

Who are the national shareholders of the Sundance company which claims several billion FCFA in Cameroon and threatens to block any start?


Translated source:
https://www-camer-be.translate.goog/90650/12:1/cameroun-fer-de-mbalam-ce-quil-faut-savoir-cameroon.html?_x_tr_sl=fr&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
and

https://camerounactu-com.translate.goog/cameroun-fer-de-mbalam-ce-quil-faut-savoir-cameroon/?_x_tr_sl=fr&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc



If you're not familiar with the "Transition Agreement" (and why are you here then?), this is the guts of it.





Considering SDL does not have a pot to piss in, I'm left wondering if SDL, via the pending ICC action, might end up with a 2% interest as some form of compensation to shut them up.
This would be consistent with the Transition Agreement from 2015.