Sunday, 13 Feb 2011
Reuters reported that Australia's Sundance Resources wants Chinese companies to build a railway line and port in Cameroon vital to its Mbalam iron ore export venture.
Mr Giulio Casello MD at Sundance Resources said that the project is also expected to cost more than the USD 3.4 billion initially thought.
He said that agreements had been signed with China Rail and China Harbour to build 490 kilometers of rail line linking two mines in the Mbalam area to a port on the Cameroon coast capable of handling 35 million tonnes of ore a year for a decade.
He added that the initial capital costs were pegged at USD 3.4 billion but the figure was likely to increase due to the addition of the Nabeba mine in Congo Brazzaville.
The Nabeda mine would need 60 kilometers of railway line and a crushing and sorting facility, he said.
Mbalam, Sundance's main project, is among a handful of big iron ore developments in west and central Africa and is seen as a cornerstone of Cameroon's effort to diversify its largely oil dependent economy into mining.
(sourced:reuters)
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