Shares in Sundance Resources Ltd
(ASX:SDL) lifted over 8 per cent yesterday, after the iron ore miner confirmed it has held talks with South Korean steel giant POSCO about partnering up for its Mbalam project in West Africa.
Responding to media speculation Sundance says it has held a number of discussions with a wide variety of international steel mills and potential strategic partners to pursue the Mbalam iron ore project in Cameroon and Congo.
The company adds that those discussions have included POSCO, among others, though no formal agreements have been entered into as yet.
On Monday shares in Sundance lifted 8.79 per cent to close at $0.495.
In the year to 30 June 2010, Sundance Resources posted a net loss of $10.75 million.
