LExpressPlus.com

Mining Journal reported that Sundance Resources recently raised USD 89.7 million to finance a feasibility study on its Mbalam iron ore project in Cameroon.

Initial production for the USD 2.26 billion project is expected in 2013. Reserves are estimated at 2,500 million tonne including 215 million tonne of high grade hematite. Once operational, Sundance hopes to produce 35 million tonne per year of ore.

African Aura Mining Inc is exploring on its wholly owned Nkout iron ore project at Djoum, adjacent to the Mbalam project. In September, Legend Mining Limited acquired 90% stake in 2 exploration permits covering an area of 2,400 square kilometres through Cameroon Mining Action SA.

(Sourced from Mining Journal)