Sundance Resources Limited (ASX:SDL) has advised that the high grade ore reserves for its flagship Mbalam iron ore project now total 352 million tonnes.
The West Africa-focused iron ore explorer says the upgrade estimate is significant as it confirms Mbalam has sufficient reserves to deliver stage one of the project.
Stage one is expected to annually produce 35 million tonnes of high-grade direct shipping ore for at least 10 years.
Including stage two, Sundance advises that the Mbalam project has a long mine life of at least 25 years.
Sundance CEO and Managing Director Giulio Casello has called the latest results “outstanding”.
Sundance Resources posted a net loss of $21.7 million in fiscal 2011.
