ASX-listed iron-ore developer Sundance Resources announced in September that it had received A$40-million from Ukrainian-born resource investor Gennadiy Bogolyubov’s investment holding company Wafin, to progress Sundance’s Mbalam-Nabeba iron-ore project, which straddles the borders of Cameroon and the Republic of Congo. The project involves the development of a 35-million-tonne-a-year deep-water mineral terminal facility, in Cameroon. Iron-ore deposits in Cameroon and the Congo will supply this facility for an estimated 35 years.
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