Sundance to select EPC contractor by the end of June
PERTH (miningweekly.com) – Iron-ore developer Sundance Resources is hoping to finalise the engineering, procurement and construction (EPC) tender process for the development of port and rail infrastructure at its Mbalam-Nabeba project, in Cameroon and the Republic of Congo, by the end of June.
Speaking to delegates at the Resources Rising Stars conference, in Perth, Sundance chairperson George Jones noted that the company had shortlisted two contractors for the EPC contract.
“Both of their numbers came in below the feasibility study numbers, and both came with financing packages. We are working with these two groups and intend to make a decision on which group to select by no later than the end of June,” Jones said.
He added that the challenge for Sundance would be to retain its majority shareholding in the Mbalam-Nabeba project, as the financing packages offered by the contractors contained an equity component.
Once Sundance selected an EPC contractor, the company would work to complete the conditions precedent in the financing package before the end of the year, with construction of port and rail infrastructure expected to start early 2015.
Sundance was currently targeting production of 35-million tonnes a year at Mbalam-Nabeba, with the project expected to have a minimum mine life of 25 years.
Stage 1 of the operation, which would have a mine life of ten years, would be focused on producing direct shipping ore hematite, while the second stage of the operation would be the continued production of itabirite hematite concentrate.
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