Cameroon has announced that it will receive a cumulative USD 5 billion through royalties, corporate taxes and dividends over the 25-year life span of Sundance Resources Ltd’s drilling and sale of iron ore in eastern Cameroon. Cam Iron AS, Cameroon’s partner with the Australian iron firm, officially requested a permit on 23 October from the Cameroon government to start drilling the mineral. Sundance Resources owns 100% of Cameroon Iron Co., which itself holds 90% of the Mbalam iron ore deposit, considered to be one of biggest in Africa.
