Sundance Resources Seeks Chinese Partner to Develop Mbalam Project

16 May 2011 (Last Updated May 16th, 2011 18:30)

Sundance Resources is set to develop its Mbalam project in Cameroon, and may sell half of the development to a Chinese partner to help fund construction. Sundance completed a study of the $4.7bn Mbalam project last month and is planning to start construction at the end of the year, repo

Sundance Resources is set to develop its Mbalam project in Cameroon, and may sell half of the development to a Chinese partner to help fund construction.

Sundance completed a study of the $4.7bn Mbalam project last month and is planning to start construction at the end of the year, reports Bloomberg.

The work will also include construction of 510km heavy-haulage railroad through Cameroon and a deep water port for bulk iron ore carriers to start shipping iron ore by 2014.

Sundance Resources CEO Giulio Casello said a new partner would be able to sign up for sales accords while Sundance will retain no less than 50% of the project.