Sundance Resources starts Mbalam-Kribi railway survey

The Australian mining subsidiary, Sundance Resources, which Cam Iron Cameroon is a subsidiary in developing the exploitation of Mbalam iron project, in the region of the East of the country, announced in a report of March 2015 published April 30, 2015, the commencement of surveying and popular consultations on the Mbalam-Kribi railway.

This rail infrastructure, which will stretch on 510 Km, will help evacuate iron which will be produced in Mbalam, at the East of Cameroon, Kribi sea port, in the region of the South.

If the surveying materializes Sundance Resources says it will permit them to identify property of the riverain populations and other cultural sites that will be impacted by the project, with a view to future compensation. To the Australian mining subsidiary, these operations were already at 35% level by March 2015, and will continue throughout the coming months.

As a reminder, on June 5, 2014, the Portuguese company Mota Engil with Sundance Resources, signed a partnership agreement for the construction of infrastructure for the development of the Mbalam iron project. The search for financing, for its part, was entrusted to Standard Bank of South Africa.

In November 2014, the Cameroonian government's extended to 30 June 2015 the deadline for mobilisation of financing this project. The initial period had expired in May 2014, since the signing of the investment with the Cameroonian state convention November 29, 2012, an 18-month period had been left at Sundance Resources to mobilize the 3000 billion Cfa francs required for the Mbalam iron project (construction of the mine, road railway and Pier railway of the Kribi deep sea port).