Sundance Resources has submitted a claim statement against the Congo Republic as part of an iron ore dispute the company referred to international arbitration in March 2021.
The Australian mining company is seeking $8.8 billion in damages over the Mbalam-Nabeba project, which straddles the border of Congo and Cameroon, and which it has yet to begin mining due to disputes with both central African countries.
The government of Congo revoked Sundance subsidiary Congo Iron’s permit in December 2020 and awarded it to a little-known company, triggering the dispute. A Memorial of Claim was filed at the International Chamber of Commerce (ICC) on May 27, and Congo has until November to respond, the statement said.
Sundance also said Cameroon had failed in an appeal against an interim order restraining the government from granting exploitation rights over the Mbalam iron ore deposit to other parties. They also accuse the government of failing to honour an exploitation permit awarded to Sundance subsidiary Cam Iron in 2010 and violating the terms of their agreement.
The dispute was referred to international arbitration in June 2021 after Sundance learned that Cameroon’s government was in talks with Congo Republic to develop the mine with Chinese investors.