Sundance Resources Limited (SDL) and Equatorial Resources (EQX) are pleased to advise that they have signed a Memorandum of Understanding under which both companies will examine how Equatorial may utilise the rail and port infrastructure associated with Sundance’s Mbalam/Nabeba iron ore project in West Africa. The MoU also covers other opportunities for regional co‐operation between the two Australian‐based companies. Equatorial owns the Badondo Iron Project in the north‐west of the Republic of Congo. As part of the MoU, Sundance will advance its discussions with Equatorial regarding the potential for access to the Mbalam infrastructure by way of direct investment or alternatively by a haulage services agreement. This region also hosts several other world‐class iron ore exploration projects, including CMEC’s Belinga Project in Gabon.
“Sundance is leading the development of a world‐class iron ore region and our first mover advantage with having our DFS complete and project funding on the table from Hanlong and CDB demonstrates that we are ready to start unlocking the potential of this area. We strongly believe that regional cooperation by way of infrastructure sharing is a logical and pragmatic approach to fast tracking development for the benefit of everyone involved, including the Governments and people of these countries.
www.equatorialresources.com.au
Tags: Equatorial Resources, EQX, Iron Ore, Joint Venture, mining, SDL, Sundance Resources
