[miningmx.com] – SUNDANCE Resources CEO, Giulio Casello, said volatility in the iron ore price would not affect the company’s Mbalam-Nabeba iron ore project, situated in Cameroon in central Africa.
“The fluctuations in iron ore price – past or current – literally have no impact on this single project as it is in the lowest quartile of iron ore mines globally,’ Casello told delegates at the Paydirt Africa Down Under conference in Perth, western Australia.
“Its economics are not affected by movements in the iron ore price in the current $85 – $120 a tonne price range as we are witnessing,’ he said.
Earlier in the day, Sundance announced that mining entrepreneur, Gennadiy Bogolyubov, who is the ultimate owner of Australian-listed Consolidated Minerals, would invest A$40m into Mbalam-Nabeba.
Said Casello: “This is such a low cost operation that drops in price do not affect its bottom-line cost structure, and this is why Mbalam-Nabeba will be a secure operation right through to 2029 and beyond.’
