Mbalam Convention Signed with Cameroon Government

Agreement paves way for Cameroon s first mine, rail and port iron ore project, while marking another milestone on path to completion of Hanlong deal Sundance Resources Limited (ASX: SDL) ( Sundance or the Company ) is pleased to advise that the Government of Cameroon has today officially paved the way for development of the Company s Mbalam Iron Ore Project by signing the Mbalam Convention.
The Convention also means that Sundance has taken another significant step towards completion of its Scheme Implementation Agreement with Hanlong Mining. The Convention, which was signed in a ceremony in the Cameroon capital of Yaounde, underpins the agreement between Sundance subsidiary Cam Iron SA and the Government outlining the fiscal and legal terms and the conditions to be satisfied by Cam Iron SA for the development and management of the Mbalam Iron Ore Project. The Convention, with a number of other conditions including endorsement by the Cameroon National Assembly, will lead to the Mining Permit and commencement of construction.

Aucun commentaire:

Enregistrer un commentaire