Sundance goes on hunt for offshore investors for African project
Sundance Resources chairman George Jones says he is looking to drum up interest in China and from traditional Western investors to finance the infrastructure for its flagship $US4.6 billion ($4.9 billion) iron ore project in central Africa, after being “very disappointed" by the lack of appetite from Australian quarters.
On Friday, Perth junior Sundance struck a long-awaited deal with a Portuguese firm for the construction of $US3.5 billion in port and rail underpinning its Mbalam-Nabeba project, which straddles Cameroon and the Congo. But the financing for the infrastructure, and another $US1.1 billion to bankroll the iron ore project, are still up in the air.
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