IMIC CEO steps down
International Mining & Infrastructure Corporation (IMIC) announced that Ousmane Kane would step down as CEO and leave the company with effect from 31 July 2014. Kane has decided to return to Mauritania having successfully completed the acquisition of Afferro Mining, having implemented a development plan for the newly acquired assets in Cameroon and having launched the necessary feasibility studies.
Sundance iron ore project
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.
Cameroon: exploration block awarded
Cameroon’s Ministry of Industry, Mining, and Technological Development has awarded Total Exploration & Production Cameroon, a 75.8% affiliate of Total SA, the Lungahe exploration block in the Rio del Rey basin off Cameroon.