Sangha Mining Development News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Reuters Staff 2 Min Read DAKAR (Reuters) - Avima Iron Ore Limited said on Thursday it had written to Congo Republic’s government to demand it either reinstate the company’s production licence that was stripped last November or pay damages of $27 billion. Avima’s iron ore licence was one of three that Congo’s government revoked late last year and handed to a little-known company backed by Chinese investment called Sangha Mining Development Sasu. The government said the companies had failed to meet their obligations to develop their concessions. The companies deny this. One of them, ...

Australian miners press Congo over seized iron ore projects Congo Republic has cancelled iron ore projects with three Australian miners, two of the companies said, and handed them to a firm “nobody knows anything about”, prompting one to seek $8.76 billion in damages from the central African nation. The sudden cancellation sparked alarm among the project owners after years of working closely with the government of Congo Republic. Sundance Resources Ltd and Equatorial Resources Ltd EQX.AX both said this week they had been notified through an official journal that their mining or exploratio...

The move comes after the Government of Congo revoked Sundance Resources’ mining permit for Nabeba iron ore project Government of Congo issued a decree to withdraw the mining permit from Sundance’s subsidiary Congo Iron. Credit: Bishnu Sarangi from Pixabay. Australian firm Sundance Resources has initiated a process against Congo to claim a compensation of $8.76bn after the local government revoked its mining permit for Nabeba iron ore project. Last month, the Government of Congo issued a decree to withdraw the mining permit from Sundance’s subsidiary Congo Iron. The decree was published ...

Republic of Congo cancels iron ore project with Sundance Resources Republic of Congo. Stock Image. The Republic of Congo terminated its contract with Australian miner Sundance Resources to develop the massive Mbalam-Nabeba iron ore deposit and awarded three new permits to a relatively unknown company with Chinese backing. In a Nov. 30 decree jointly signed by President Denis Sassou Nguesso and four ministers, the government cited several reasons to withdraw the contract for the iron ore deposit that straddles the Republic of Congo and Cameroon, including insufficient development and non-paym...