Annual output of 40 million tons! Sundance iron ore will be shipped to China

SMM12, March 12-Project investors say Sundance Resources'40 million tons / year iron ore project in Brazzaville, Congo, and Cameroon looks set to resurface after years of adjustment, and investors in the project say the Cameroon government is expected to sign a mining agreement later this month.

Like Simandou Blocks 1 / 2, another large iron ore project in Africa, the $6 billion Sundance project will be developed mainly by Chinese financial supporters who provide infrastructure, and all the ore is expected to be shipped to China.

Under the previous agreement, Sundance's main shareholder partner will be AustSino, a company registered on the Australian Stock Exchange (ASX). Funds and resources companies that currently hold Sundance funds and resources companies for Marys Capital Investments,D&E Shaw,Seringan,Noble Resources,Blackstone and Wajin, strategic partners include China Railway Construction, Shenzhen Yantian Port, steelmaker Baowu and stainless steel producer Castle Peak.

Once the infrastructure is in place, Sundance will be able to produce 15 million tonnes of iron ore with a grade of 62 per cent in its first year of operation and 40 million tonnes a year in the second year, executives said.

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