Sundance’s Republic of Congo iron-ore project gets govt thumbs up PRINT EMAIL |
By: Nomvelo Buthelezi 4th May 2012 TEXT SIZE Republic of Congo Mines and Geology Minister Pierre Oba has approved Sundance Resources’ application to develop and mine the high-grade Nabeba iron-ore deposit, located in the country’s Sangha region.
The Minister has recommended that the Council of Ministers approve the issuing of the mining permit. The project is expected to contribute more than $2-billion to the country’s economy in its first ten years of operation. It will also be a catalyst for further exploration in the area and for the development of nearby iron-ore deposits.
“The government of the Republic of Congo fully supports the Nabeba project and will assist the company and its subsidiary, Congo Iron, in realising its aims,” says Oba. The Nabeba deposit will help underpin the first stage of Sundance’s Mbalam development, where 35-million tons a year of direct shipping iron-ore will be produced for at least ten years. “Sundance appreciates the approval and recommendation by the Minister, which brings the beginning of development of Nabeba one step closer, creating significant economic, financial and social benefits for the people of the Republic of Congo,” says Sundance MD and CEO Giulio Casello.
“This is a key milestone for the company and we are appreciative of the ongoing support that we have received from the Congolese government, particularly from the President and the Minister of Mines, for their commitment to ensuring that this project can be advanced as quickly as possible for the benefit of all stakeholders.”
Congo Iron holds two exploration research permits, Nabeba-Bamegod and Ibanga, in the district of Souanké. The mining permit is for Nabeba-Bamegod. The company’s geology team is also undertaking a reinterpretation of the Nabeba deposit with the benefit of recent drilling results. These have revealed a definitive mineralised transi- tion zone that has potential to add significant tonnage for the first stage of the project.
Edited by: Martin Zhuwakinyu
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Add New Comment Post as … Showing 0 comments Sort by Popular now Best rating Newest first Oldest first Subscribe by email Subscribe by RSS GIGANTIC RESOURCE The Nabeba deposit will help underpin the first stage of Sundances’ Mbalam development, where 35-million tons a year of direct shipping iron-ore will be produced for at least ten years Related Articles Articles|Audio|Video No related articles No related audio No related video
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