Work to Continue on Mbalam Iron Ore Project

The Chief Executive Officer of Sundance Resources Ltd gave the assurance on April 12.

The Managing Director and Chief Executive Officer of the Australian-based mining company, Sundance Resources Ltd, Giulio Casello, has assured the Cameroon government that work will continue unperturbed in the Mbalam Iron Ore exploitation project in south east Cameroon despite the pulling out of the company's partner, the Chinese-based Hanlong Group.

Sundance Resources Ltd is the main partner of Cam iron SA, the local company in charge of executing the Mbalam Iron Ore Project. "We are here to meet with our partners and Cameroon government to let them know that we are progressing with the project," Giulio Casello told the press after discussions with the Prime Minister, Head of Government, Philemon Yang on April 12, 2013 at the Star Building. He said the pulling out of Hanlong Group from the process will not greatly affect the progress of work. "The project remains strong," he disclosed.

Giulio Casello substantiated his declaration by stating that, "We have gone back to the Chinese government and funders in China and they have assured us that they are ready to support the project." Other arguments in favour of progress of the project, he said relate to work done since 2012 by getting the Chinese government approval, Chinese Development Bank's support and increasing Sundance Resources Ltd reserves and resources.

All this, he said, came to add to the convention signed in Cameroon and the mining permit obtained in Congo. The company, he said, will continue work as it looks for a new partner to develop the project.