Sundance closer to West African iron ore mine
Mark Mentiplay, 23rd Apr 2012
PERTH, Apr 23 -- Sundance Resources has moved another step closer to bringing its Mbalam/Nabeba iron ore project, that spans the Cameroon/Congo border in central West Africa, into production.
Congo’s Mines and Geology Minister has recommended the republic’s Council of Ministers approve a mining permit to develop and mine the high-grade Nabeba iron ore deposit.
Nabeba is a pivotal part of Sundance’s Mbalam/Nabeba iron project and will underpin stage 1 of the development in which 35Mt of direct shipping ore-quality (DSO) iron ore will be produced each year for at least 10 years. This stage also includes construction of a heavy haul railway and the building of a dedicated deepwater port.
Sundance has total high-grade hematite resources totalling 521.7Mt at 60.7% Fe between the deposits. Of that total, 319.2Mt at 61.6% Fe is at Nabeba, where it also has an exploration target of an additional 1.5Bt-2.5Bt of Itabirite hematite at 30-40%. The company also has drilled and defined a world class Itabirite hematite resource at Mbarga of 2.32Bt at 38% Fe.
Sundance is re-interpreting the Nabeba deposit after recent drilling revealed a definitive mineralised transition zone with potential to add significant tonnage for stage 1 of the project.
Stage 2 will see the development of Sundance’s Itabirite deposits maintaining production at 35Mtpa for a further 15 years.
The company has completed a definitive feasibility s for stage 1 that now forms the basis for capital appropriation and budgeting in the move towards a final investment decision pending securing project financing and government approvals.
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