Sundance Resources has provided an update regarding positive developments in the company’s international arbitration proceedings against the Republic of Congo, the Republic of Cameroon and the company’s ongoing pre-action discovery proceedings in the Supreme Court of Western Australia against AustSino Resources Group Ltd and its executive chairman, Mr Chun Ming Ding.
- A Memorial of Claim has been filed at the International Chamber of Commerce in respect to the proceeding against the Republic of Congo;
- The Republic of Cameroon has failed in its appeal against the interim order by the Emergency Arbitrator at the ICC. The interim order, which restrains the Republic of Cameroon from granting exploitation rights over the Mbalam iron ore deposit to any party except Sundance’s subsidiary, Cam Iron, remains in force; and
- AustSino has withdrawn its appeal against the orders issued by the Supreme Court of Western Australia that grant pre-action discovery against AustSino and Mr Ding.