Sundance Resources sues Republic of Congo for $8.8bn damages over cancelled contract
Australian miner delists from Australian Securities Exchange
22 December 2020 - 11:08
Australian miner Sundance Resources said it would launch an arbitration process against the Republic of Congo $8.76bn in damages after the government terminated its contract to develop the huge Nabeba iron-ore deposit, reports said.
The Nabeba permit is part of its huge Mbalam-Nabeba project, which straddles the border of Congo and Cameroon. The iron ore explorer started operations in northern Republic of Congo in 2010 and has invested almost $300m. It has yet to begin extracting iron ore...
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