Sundance Resources Limited
Encyclopedia
Sundance Resources Limited (SDL) is an Australia
n mining company, based in Perth
, Western Australia
, whose main assets are iron ore leases in Cameroon
near Mbalam
, and across the border in the Republic of Congo.
To exploit these leases, a 500 km railway (or perhaps a slurry pipeline) is required to a new multi-user port at Lolabé
on the Atlantic coast. Sundance hopes to start production at the project in 2012.
It made headlines in June 2010 when all of the company's directors and some other officers were killed in an airplane crash
in the Republic of Congo.
, the ASX, in 1993, then under the name of St Francis Mining NL (SFM). It changed this name to St Francis Mining Limited in October 1999. It traded under this name for only a short time before becoming the St Francis Group Limited (SFG) in June 2000. In December 2003, the St Francis Group Limited became Sundance Resources Limited (SDL), the company's current name.
Apart from being listed on the ASX, the company is also traded on over-the-counter markets in Frankfurt, Munich
, Berlin
, Hamburg
and Stuttgart
, Germany
.
in the southern part of Cameroon. The deposit was identified in 1982 by the United Nations Development Fund.
Additionally, a further five people were killed in the accident: two pilots, a consultant for Sundance and a British and a French citizen.
The company halted its African operations and ordered staff to help find the plane. Trading of its shares was also halted and Peter Canterbury was named acting chief executive. Former chairman George Jones said that the disappearance of the entire board would not spell the end for the company.
, the corporate regulator, has approved the co-option of a former chairman to co-opt other members to a new board, which will be put before a shareholder's meeting at the earliest practical opportunity.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n mining company, based in Perth
Perth, Western Australia
Perth is the capital and largest city of the Australian state of Western Australia and the fourth most populous city in Australia. The Perth metropolitan area has an estimated population of almost 1,700,000....
, Western Australia
Western Australia
Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
, whose main assets are iron ore leases in Cameroon
Cameroon
Cameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the...
near Mbalam
Mbalam
Mbalam is a place in Cameroon near the southern border with Gabon border where there are significant deposits of iron ore. The mining company is Sundance Resources Limited.- Railway :...
, and across the border in the Republic of Congo.
To exploit these leases, a 500 km railway (or perhaps a slurry pipeline) is required to a new multi-user port at Lolabé
Lolabé
Lolabé is a small coastal town in Cameroon. It lies on the Atlantic Ocean, about halfway between Kribi and the border with Equatorial Guinea.- Port :...
on the Atlantic coast. Sundance hopes to start production at the project in 2012.
It made headlines in June 2010 when all of the company's directors and some other officers were killed in an airplane crash
2010 Cameroon Aero Service CASA C-212 Aviocar crash
On 19 June 2010, an CASA C-212 Aviocar crashed on a flight from Yaoundé, Cameroon to Yangadou, Republic of the Congo, killing all 11 people on board, including the entire board of Sundance Resources, an Australian mining conglomerate.-Aircraft:...
in the Republic of Congo.
Company history
Sundance Resources was listed on the Australian Securities ExchangeAustralian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
, the ASX, in 1993, then under the name of St Francis Mining NL (SFM). It changed this name to St Francis Mining Limited in October 1999. It traded under this name for only a short time before becoming the St Francis Group Limited (SFG) in June 2000. In December 2003, the St Francis Group Limited became Sundance Resources Limited (SDL), the company's current name.
Apart from being listed on the ASX, the company is also traded on over-the-counter markets in Frankfurt, Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
, Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
, Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
and Stuttgart
Stuttgart
Stuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
.
Mbalam project
Sundance announced the acquisition of a 100% interest, since reduced to 90%, in Cam Iron SA, a company incorporated in Cameroon, in March 2006. Cam was the owner of exploration permit No 92 which covered an area of 875 square kilometres over the Mbalam iron ore province. Mbalam is located about 300 km east-southeast of the capital city of YaoundeYaoundé
-Transportation:Yaoundé Nsimalen International Airport is a major civilian hub, while nearby Yaoundé Airport is used by the military. Railway lines run west to the port city of Douala and north to N'Gaoundéré. Many bus companies operate from the city; particularly in the Nsam and Mvan neighborhoods...
in the southern part of Cameroon. The deposit was identified in 1982 by the United Nations Development Fund.
Republic of Congo
Sundance also holds an 85% interest in iron ore deposits across the border in the Republic of Congo, which would be served by a branch off the main railway.Accident
On 19 June 2010, an airplane crash in the Republic of Congo killed many of the company's executives including the entire board of directors, consisting of the following people:- Geoff Wedlock, Non Executive Chairman
- Don Lewis, Managing Director / Chief Executive Officer
- Ken TalbotKen TalbotKen Talbot was the principal shareholder and former CEO of the Macarthur Coal Ltd mining company. He was the only child of Norman and Nita Talbot...
, Non Executive Director - Craig Oliver, Non Executive Director
- John Carr-Gregg, Company Secretary / General Manager Corporate Services
- John Jones, Non Executive Director
Additionally, a further five people were killed in the accident: two pilots, a consultant for Sundance and a British and a French citizen.
The company halted its African operations and ordered staff to help find the plane. Trading of its shares was also halted and Peter Canterbury was named acting chief executive. Former chairman George Jones said that the disappearance of the entire board would not spell the end for the company.
Post-accident
Strictly speaking, if there are no surviving board members, then there is no-one to appoint new members to a new board. However, ASICAustralian Securities and Investments Commission
The Australian Securities & Investments Commission is an independent Australian government body that acts as Australia's corporate regulator...
, the corporate regulator, has approved the co-option of a former chairman to co-opt other members to a new board, which will be put before a shareholder's meeting at the earliest practical opportunity.
2011
- a deal was struck with Legend Resources, also of Australia, to share railway and port infrastructure.
See also
- Iron ore in AfricaIron ore in AfricaIron ore production in Africa is dominated by South Africa, Mauritania and Algeria; Zimbabwe and Morocco produce ore for use within the country. Many countries possess iron ore deposits that are as yet unmined...
- Railway stations in CameroonRailway stations in Cameroon- Maps :* * - Stations served by passenger trains :- Existing :* Limbe - port, terminal, cement works --------* Nkongsamba - railhead in northwest - rehabilitate* Mbanga - junction in west** Kumba - branch terminus in west...