Sundance still in JV talks

Company News

Sundance Resources Limited (ASX:SDL) is still seeking partners for the development of its iron ore project in central Africa, and is aiming to reach the final negotiations stage by the end of the year.
 
Sundance chief executive Giulio Casell says the group has identified a number of potential interested parties, including steel mills, iron ore traders and infrastructure providers.
 
Sundance will run two joint venture tender processes for the mine and the development of deep water port and rail infrastructure.
 
By the end of 2013, the miner aims to have agreements in place for the full production capacity of 35 million tonnes per annum and be in final negotiations for building the infrastructure with contractors.
 
Sundance says the $21.20 per tonne cash costs for the first stage of the project would make it one of the lowest-cost, high-grade iron ore projects in the world.
 
Sundance posted a net loss of $14.1 million for the first half of the 2013 financial year.