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Sundance's Cameroon Iron Ore Project to Cost $4.6 Billion

By Joel ScanlonApr 7 2011

Sundance Resources announced that developing its Mbalam iron ore project would cost $4.6 billion to develop. The project in central West Africa needs infrastructure and the completion of a definitive feasibility study for the initial stage of the project.

The Australian company is developing the Mbalan Project in the Republic of Cameroon. The company hopes to begin operations by 2012 on the 35 million tonnes a year hematite mine. The company is hoping to generate strong cash margins in the project.

The Net Present Value is estimated at over $4 billion for the full project. There is an estimated Internal Rate of Return of 27% on an un-geared basis. The project is still subject to obtaining government approval and securing project financing but Sundance Resources is looking forward to progressing the project to production in a short while.

Giulio Casello, managing director said that the project would bring to fruition more than 3 years of hard work and positions Sundance Resources to realize its vision of becoming a world class iron ore producer. He added that they were now all focused on moving ahead as rapidly as possible to secure the final approvals and obtain project funding to enable them to commence construction later this year.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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Sundance Resources Limited. (2019, March 19). Sundance's Cameroon Iron Ore Project to Cost $4.6 Billion. AZoMining. Retrieved on November 21, 2024 from https://www.azomining.com/News.aspx?newsID=3880.
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Sundance Resources Limited. "Sundance's Cameroon Iron Ore Project to Cost $4.6 Billion". AZoMining. 21 November 2024. <https://www.azomining.com/News.aspx?newsID=3880>.
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Sundance Resources Limited. "Sundance's Cameroon Iron Ore Project to Cost $4.6 Billion". AZoMining. https://www.azomining.com/News.aspx?newsID=3880. (accessed November 21, 2024).
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Sundance Resources Limited. 2019. Sundance's Cameroon Iron Ore Project to Cost $4.6 Billion. AZoMining, viewed 21 November 2024, https://www.azomining.com/News.aspx?newsID=3880.