Iron-ore developer Sundance Resources announced that the signing of an engineering, procurement and construction (EPC) contract for the construction of the port and rail infrastructure for the Mbalam-Nabeba iron-ore project had been postponed at the request of the contractor.
The selected EPC contractor said that the signing of the contract had needed to be postponed until market conditions improved and the EPC contractor was able to progress its financing.
The EPC contract between the government of Cameroon and the Chinese state-owned construction company had been slated for signing in December last year. Sundance had entered in 2015 into a transition agreement with the government of Cameroon, which would see the state government fund the port and rail infrastructure required for the iron-ore project.
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