Australian Sundance Resources (ASX: SDL) announced Friday it has signed a contract with the government of Cameroon, which paves the way for a mining permit and the beginning of construction of the $4.7 billion Mbalam iron ore project, straddling the border with the Democratic Republic of Congo.
The rise of mining costs will have a more dramatic impact on the 2013 industry results than in the last couple of years, revealed Thursday global ranking agency Fitch Ratings.
Mining and metals companies saw expenditures reach over $140 billion in 2012, but a study published Wednesday by consultants at Accenture (NYSE: ACN) indicates the sum could have been considerably lower.