Posted on May 31, 2013 02:11 pm under Business, Mining, Strategies & Solutions
VENTURES AFRICA - International iron-ore company, Sundance Resources, has revealed that it will conclude discussions with potential partners on its $4.7 billion Mbalam-Nabeba iron-ore project by June and announce a chosen partner three months later.
“We will end the discussions probably in June 2013 and we will have a shortlist. Three months later, we will know who will be the final partner,” Sundance chief operations officer, David Meehan told news agency, Reuters, on the sidelines of a mining conference in Cameroon’s capital.
According to him, the company is in advanced talks with several firms including Chinese banks and construction firms. He added that the Chinese government will back any other partner after China’s Hanlong walked away from a $1.4 billion takeover deal in April this year.
“The Chinese government will support any other Chinese partner. We are in discussion with several Chinese partners but also with others outside China,” Meehan said
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SDL Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
