Gilbert + Tobin and Shearman & Sterling have advised Sundance Resources Ltd in relation to a mining convention signed on 29 November by Cam Iron, the Cameroonian subsidiary of Sundance Resources, with the State of Cameroon regarding the Mbalam/Nabeba project.
Located both in Cameroon (Mbalam) and Congo (Nabeba), the project, with a total value estimated over US$4.5 billion, is one of the largest and most complex integrated mining and transportation infrastructure projects in Africa to date. It will include the construction of Cameroon’s first iron ore mine, deep sea port terminal and a 500 km railway to transport the iron ore extracted from the mine.
Gilbert + Tobin Energy and Resources Partner, Michael Blakiston said that the agreement is a historic and significant event which will mean enormous flow-on economic and social benefits for the people of Cameroon.
“The signing of the convention is the culmination of six years of hard work and collegial efforts between all parties involved which will result in a world-class iron ore operation in Cameroon,” he said.
The convention, which was signed in a ceremony in the Cameroon capital of Yaoundé also signifies considerable progress towards completion of Sundance’s Scheme Implementation Agreement with Hanlong Mining.
The mining convention sets out the legal, tax, financial, terms and conditions under which Cam Iron, the Cameroonian subsidiary of Sundance Resources will develop and operate its mine, rail and port in Cameroon.
The Gilbert + Tobin team was led by Michael Blakiston and assisted by Energy and Resources lawyers, Callista Barrett and Cassandra Hay.
Shearman & Sterling Paris and London based teams were led by project development & finance partner and Head of the Firm’s Africa Group, Christophe Asselineau.
The Government of the Republic of Cameroon was advised by US firm Patton Boggs and French firm Gide Loyrette Nouel.
