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article from jan08

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    Its old news but good nonetheless, which emphasis' a couple things:

    Large economic scale of mbalam project and the production life of 20years of high grade ore.
    The importance the cameroon gov is placing to get project moving.
    Feasibility by Feb08, 1 week remaining
    MOU in march08

    Time will tell




    January 04, 2008
    Cameroon soon to Exploit Iron Ore at Mbalam
    By Ben Nakomo

    Cameroon will commence, by mid 2008, to exploit Iron Ore in the region of Mbalam, in a project which is said to be of great economic importance to the country given its capacity to produce 35 million tons of iron ore per year over a period of 20 years. A taskforce charged with drawing up a memorandum of understanding that spells out modalities for iron ore exploitation in Mbalam in the East Province of Cameroon was installed in Yaoundé on December 6, 2007. The team of experts was commissioned by the Secretary General in the Ministry of Mines, Industry and Technological Development Oumarou Djike Saidou. The MOU to be signed in March 2008 between the government of Cameroon and two companies; CAMIRON and Sundance Resources Limited currently exploring the iron ore deposits will lead to actual exploitation of the mineral by the partner companies. The commision will study the legal, social and economic and environmental impact of the project. The Mbalam Iron ore project is important because of the economic gains. According to stakeholders, about 2000 jobs will be created. One billion, five hundred million Francs CFA shall be invested and four hundred kilometres of rail lines will be constructed during the course of the project.

    http://www.entrepreneurnewsonline.com/2008/01/cameroon-soon-t.html
 
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