The agreement signed between the government and Sundance subsidiary Cam Iron permits commencement of construction and mining at Mbalam iron-ore project under the terms and conditions of the MoU that includes an endorsement by the Cameroon National Assembly.
Speaking about the government’s support Sundance chairman George Jones stated that the locals stand to benefit from the government’s economic and social backing for the project.
With this convention the company has taken a significant step towards completion of its Scheme Implementation Agreement with Hanlong Mining.
On 4 October 2011, Sundance and Hanlong announced the proposed acquisition of Sundance by Hanlong to be implemented accordance with the terms of the Scheme Implementation Agreement entered into on the same date.
