Sundances Resources revising upwards the annual production of iron Mbalam

Nothing new, just some publicity

Sundances Resources revising upwards the annual production of iron Mbalam

By Eugene C. Shema - 04/30/2015

The production of this mining project in eastern Cameroon, initially estimated at 35 million tons of iron per year, has been reviewed by the Australian firm at 40 million tonnes

Sundance Resources has revised upward its forecast of production that can be drawn annually from the exploitation of iron Mbalam, East Cameroon. In a report published on April 30 , and reporting on its activities at the end of March 2015, the Australian firm "confirms" that the project's capacity has been reviewed by 35 Mtpa (million tonnes per year), 40 mtpa.

Sundance Resources claims to have performed for that of "simulations" "sophisticated" and "more dynamic". It will in this context add an "additional rail spur."

This new evaluation should encourage annual tonnage growth of annual income of about $ 295 million.

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-Mbalam Nabeba
The miner Sundance Resources has obtained an exploitation permit Mbalam site with the Cameroonian authorities in November 2012 and also signed in July 2014 an operating agreement for Nabeba, the other component of the project with the Congo Brazzaville.

Sundance and Portuguese Mota-Engil signed a strategic partnership in June 2014 to finance the construction of 580 km of railways needed to transport iron ore from the mining sites to the Atlantic coast, and that of Lolabe discharge port in Cameroon. Cam Iron also signed with the same period a contract with the first bank of the continent, Standard Bank of South Africa (coming in the portfolio of Mota Engil) to mobilize funds for the implementation of these infrastructures. The project requires 3.9 trillion CFA francs in its different phases.

Last June, Sundance Resources plans to complete the financing required by mid 2015 and then taking three and half years for the construction of infrastructure.

In the transcript published on Thursday, the Australian firm indicates be putting the project to international standards. The process was evaluated at 31 March 2015 to 35%.

Operating project Mbalam iron is operated by Cam Iron Cameroon, Cameroonian company whose Sundances Resources is majority shareholder with 90% stake. The site's mineral resources are estimated at over 775 million tonnes of iron ore.
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