Government, Sundance Resources Ltd and Hanlong Group officials signed them on Thursday April 26.
The Mbalam Iron Ore Mining convention will likely be signed in August 2012, the progress report on the ongoing negotiations between the stakeholders of the project has disclosed. The negotiations started six weeks ago paved the way for the partners to sign the Joint Statement on the key terms and principles of the convention on Mbalam Iron Ore mining project at the Prime Minister’s Office in Yaounde, yesterday, April 26, 2012.
The Secretary General at the Prime Minister’s Office who doubles as Chairperson of the Steering Committee of the project, Louis Paul Motaze signed for the Cameroon government, George Jones, the Chairman of the Sundance Resources Ldt/CAM IRON SA, signed for the company and Chairman of the Sundance Chinese strategic partner, Hanlong Group, Liu Han signed for his company.
The Joint Statement on progress made toward meeting the principles and key terms of the Mbalam Iron Ore Mining project will guide in the signing of the convention and chart the way forward for developing the project. After the convention must have been signed, focus will shift to the investments to be carried out to implement the project.
Speaking during the occasion on behalf of the Head of State and Prime Minister, Louis Paul Motaze, transmitted the Head of Government’s assurance of government’s commitment to conclude the mining convention as soon as possible. As such, government expects that the spirit of discussions during negotiations leading to the signing of the said convention be that of win-win partnership. He said the Cameroon government has since the beginning of 2012 mobilised experts who are working to prepare needed elements for future negotiations on the Mbalam convention and have them on time.
George Jones, Chairman of Sundance Resources Ltd/CAM IRON SA, said there were still some differences to be resolved and described the signing of the Joint Statement as a significant phase of the project. The Chairman of Hanlong Group, Liu Han expressed appreciation to President Biya’s leadership and support of the project’s Steering Committee, stating that the Hanlong Group was committed to developing the Mbalam mining project.
