Sundance Resources Limited (ASX:SDL) has taken another step to securing finance for its Mbalam-Nabeba Iron Ore Project in Central Africa.
The iron ore miner says the Republic of Congo Government has today signed the Nabeba Mining Convention in the country’s capital.
The convention outlines the financial and legal terms and conditions to be satisfied for the development and management of the Nabeba Iron Ore Project.
Sundance says the milestone also means the company has taken a significant step to finalising the preconditions for financing and commencement of construction.
Sundance Resources Managing Director Giulio Casello says it is clear huge value is about to be unlocked for all stakeholders.
Sundance Resources reported a net loss of $21.15 million in the first half of the 2014 financial year.