SUNDANCE RESOURCES WKN: A0BK6G ISIN: AU000000SDL6 Kürzel: SFM1 Forum: Aktien Thema: Hauptdiskussion

Der komplette Text von der Website.

https://www.sundanceresources.com.au/irm/pdf/ba42fccc-4814-4224-a5db-f9f8e355dcaf/Cameroon-Issues-Mbalam-Mining-Permit-to-Third-Party-in-Breach-of-ICC-Injunction.pdf

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Laut Sundance Resources hat Kamerun wegen der Mbalam-Eisenerzlizenz gegen einen Gerichtsbeschluss verstoßen 5. September 2022 von: REUTERS Das australische Bergbauunternehmen Sundance Resources sagte am Montag, Kamerun habe gegen einen internationalen Gerichtsbeschluss verstoßen, indem es seine Lizenz für die Eisenerzlagerstätte Mbalam im Rahmen eines Eigentumsstreits an ein lokales Unternehmen übergeben habe. sundance hat sich mit den Behörden in Kamerun und der benachbarten Republik Kongo über das Schicksal des Mbalam-Nabeba-Projekts gestritten, das die Grenze der beiden zentralafrikanischen Länder überspannt. sundance sagte in der Erklärung vom Montag, dass es Dokumente verifiziert habe, aus denen hervorgeht, dass Kamerun im vergangenen Monat den kamerunischen Teil des Projekts, bekannt als Mbalam-Lizenz, an ein wenig bekanntes Unternehmen namens Cameroon Mining vergeben hat. dies, sagt Sundance, verstößt gegen eine Entscheidung der Internationalen Handelskammer, wonach die Lizenz nicht an Dritte vergeben werden kann, solange der Streit mit der Regierung andauert. Kameruns Bergbauministerium war nicht sofort für eine Stellungnahme zu erreichen. Sundance muss aufgrund der Streitigkeiten noch mit dem Abbau der Lagerstätte beginnen. Sie wirft der kamerunischen Regierung vor, eine der Sundance-Tochtergesellschaft Cam Iron im Jahr 2010 erteilte Abbaugenehmigung nicht eingehalten zu haben. Dieser Streit wurde im Juni 2021 an ein internationales Schiedsverfahren verwiesen, nachdem Sundance erfahren hatte, dass die Regierung Kameruns in Gesprächen mit der Republik Kongo war, um die Mine mit chinesischen Investoren zu entwickeln. Die Republik Kongo widerrief im Dezember 2020 die Genehmigung von Congo Iron und vergab sie an ein wenig bekanntes Unternehmen. In einer im Juli eingereichten Klage fordert Sundance Schadensersatz in Höhe von 8,8 Milliarden US-Dollar.  BEARBEITET VON: Reuter

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Hot off the press... Summary: • Memorial of Claim has been filed at the International Chamber of Commerce (“ICC” in respect to the proceeding against the Republic of Congo. • The Republic of Cameroon has failed in its appeal against the interim order by the Emergency Arbitrator at the ICC. The interim order, which restrains the Republic of Cameroon from granting exploitation rights over the Mbalam iron ore deposit to any party except Sundance's subsidiary, Cam Iron, remains in force. • AustSino has withdrawn its appeal against the orders issued by the Supreme Court of Western Australia that grant pre-action discovery against AustSino and its Executive Chairman, Mr Chun Ming Ding. Sundance Resources Ltd (“Sundance” or “Company” is pleased to provide the following update regarding positive developments in the Company's international arbitration proceedings against the Republic of Congo (“Congo”, Republic of Cameroon (“Cameroon” and the Company's ongoing preaction discovery proceedings in the Supreme Court of Western Australia (“Supreme Court” against AustSino Resources Group Ltd (“AustSino” and its Executive Chairman, Mr Chun Ming Ding (“Mr Ding”. As previously announced, these proceedings concern the Company's Mbalam-Nabeba Iron Ore Project (“Mbalam-Nabeba” or “Project” which, for more than a decade up until the illegal expropriation of its Nabeba permit in Congo in late 2020, Sundance was working on developing into a globally significant, high-grade iron ore project producing direct-shipping ores grading >62.0% Fe at a rate of 40Mtpa for at least 29 years. Mbalam-Nabeba was structured as a two-stage development to generate significant economic benefits for the people of Cameroon and Congo and substantial, sustained value for Sundance shareholders. Sundance completed a Definitive Feasibility Study for Stage 1 and a Pre-Feasibility Study for Stage 2 on a 580km railway linking the mines at Mbalam in Cameroon and Nabeba in Congo to a dedicated export terminal in the deep-water Port of Kribi, Cameroon. Sundance’s pre-development investment of approximately $A400 million made Mbalam-Nabeba the most advanced iron ore project in Cameroon and Congo and positioned it as the enabler for the development of other iron ore deposits in the two countries. International arbitration against Congo As previously announced, following the 30 November 2020 unlawful expropriation by Congo of the exploitation permit for the Nabeba iron ore tenement held by Sundance's subsidiary Congo Iron SA (“Congo Iron”, Congo Iron commenced arbitration against Congo at the ICC under the Nabeba Convention on 25 March 2021, seeking damages for breach of various provisions of the Nabeba Convention including the guarantee against expropriation. Subsequently, on 28 June 2021, Sundance (in its capacity as a beneficiary of certain guarantees under the Nabeba Convention) also commenced arbitration against Congo. Sundance brought this claim following the announcement by Congo that it had granted a mining convention to Sangha Page | 2 Mining Development SASU ("Sangha") in relation to the Nabeba tenement. The Sundance and Congo Iron claims against Congo have now been consolidated into a single arbitration. On 27 May 2022, a Memorial of Claim (“Memorial” was filed at the ICC. The Memorial included: • Factual background to the Project and the dispute; • A detailed statement of the legal basis for each claim brought against Congo; • A number of witness statements; and • Reports from several independent experts covering the value of the Mbalam Nabeba Iron Ore Project and demonstrating damages ranging from $US1.5B to $US5.7B, depending on the iron ore price used.

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5,238 Posts.  490   22/06/22   19:35   Post #: 62145394 22 June 2022 Sundance Pre-Action Discovery Application & Appeal Discontinuance AustSino Resources Group Ltd (AustSino or the Company) refers to its market announcement dated 14 April 2022 regarding the Sundance pre-action discovery application, and its subsequent announcement dated 9 May 2022 relating to the appeal against orders made for pre-action discovery in that application. Since the appeal was instituted on 6 May 20221 , the Company continued to engage with its external legal advisers regarding the appeal, the appeal’s forensic and legal benefit to the Company and the Company’s shareholders, and the weighing up of the benefits and the costs of the appeal against all relevant legal and commercial factors. Further, in this period, the Company and its external legal advisers have undertaken considered legal analysis of the Supreme Court of Western Australia’s decision published 31 March 2022 As a result of this detailed analysis, the Company has now discontinued its appeal against the pre-action discovery orders made in the Sundance Pre-Action Discovery Application. Importantly, this decision was made, noting (among other things): 1 Under Australian law, any party may attempt to seek access to certain documents under a pre-action discovery action. Sundance only had to prove in the Sundance Pre-Action Discovery Application that it may have causes of action against the Company and/or, was only required to prove above the level of suspicion, assertion, and/or conjecture that those causes of action may exist. This is a very low legal threshold. 2 The Sundance Pre-Action Discovery Application is not a claim against the Company or its chairman Mr Ding; nor does it establish or prove any claim against the Company or Mr Ding. 3 The Company and chairman Mr Ding consider, and maintain, they have nothing to hide and have not done anything wrong. 4 As a result of the court proceedings, the number of documents required to be provided to Sundance by the Company and Mr Ding has now been reduced. 1 As advised in the Company’s announcement dated 9 May 2022 The Company and Mr Ding are entitled to be reimbursed by Sundance for their reasonable legal costs incurred in defending the Pre-Action Discovery Application, and their reasonable legal costs of complying with the pre-action discovery orders. The Company and Mr Ding will continue to take all prudent and reasonable advice on this matter. The Board will continue to keep shareholders updated of any material developments on this matter

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