SUNDANCE Resources expects to receive final clearances from the Cameroon and Democratic Republic of Congo governments in a little over two weeks, enabling the Australian miner to proceed with a delayed $1.65 billion takeover by China's Hanlong Mining.
Sundance chairman George Jones said he plans to travel to Cameroon "the week after next" in the expectation of receiving verification of a critical government convention for Sundance's multi-billion-dollar Mbalam iron ore project.
Mr Jones plans to arrive in the country April 23 and aims to stay a couple of days, "hopefully to receive the letter from the Prime Minister saying it is all done", he said.
The convention, alongside a mining license from neighbouring Congo, is one of the last remaining hurdles to Hanlong pushing ahead with its takeover, which the Sundance board recommended in October.
Earlier this year Sundance and Hanlong extended the target date by eight weeks until April 27. The postponement was to allow Sundance sufficient time to settle the terms of the Cameroon convention and, separately, the Congo permit.
Sundance's Mbalam project aims to mine 35 million tonnes of iron ore annually from a site on Cameroon and Congo borders.
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