Sundance Resources Ltd has provided an update regarding the proceedings between the company and the Republic of Cameroon.
As announced on 2 July 2024, the proceedings against Cameroon are now scheduled to be heard by the International Chamber of Commerce in Paris from 27 to 31 January 2025. By 9 September 2024, a final reply submission (or rejoinder) was scheduled to be filed by Cameroon following the previously supplied submissions.
Sundance understands that the rejoinder will not be submitted. The reason for Cameroon missing the deadline, according to what has been reported in the local Cameroon media, is that Cameroon’s lawyers and independent experts have not been paid and so have stopped work on the case.
Sundance remains insistent that the original hearing dates remain in place.
Shareholders will be informed as further information comes to hand.
The conditional settlement with Congo, which was announced on 1 July 2024, does not affect Sundance’s ICC arbitration against Cameroon.
