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Vol 6 (AAC) No 6

Published 1st April 2013


Cameroon

Hanlong misses the Sundance deal deadline

One of the longest and most problematic Chinese takeover sagas is finally drawing to a sorry end for Sichuan-based Hanlong Mining and Australia’s Sundance Resources. The main attraction for the private Chinese company was Sundance’s iron-ore properties in Cameroon and Congo-Brazzaville. The National Development and Reform Commission did not deliver its approval for the Sundance takeover that would have allowed Hanlong to deal with the Chinese policy banks. Now, reports from Australia suggest that Sundance will decide how to break up and sell off its assets.

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