According to the June activity report of the Mbalam-Nabeba Iron Ore Project, Sundance Resources Limited, the Australian firm with whom Cam Iron is sourcing for the financing of the multi-billion project in Cameroon and Congo is announcing several scenarios to effectively take the project off the ground. The first is that the mines could be owned entirely by Sundance or developed jointly by Sundance and a strategic partner. Secondly, the infrastructure could be owned entirely by Sundance, or the port and rail could be part of an infrastructure joint venture involving a consortium of funds and Engineering Procurement and Construction (EPC) companies.

An independent infrastructure arrangement could be considered where Sundance pays a tariff to the consortium. This tariff would be supported by a secured take or pay off agreement, which will in turn be underpinned by iron ore off-take contracts.

Subsequent to the end of the June quarter, Sundance announced that it intends to run two concurrent processes (one for a mine joint venture and/or secured take or pay iron ore off take contracts; and another for the development of the deep water port and rail infrastructure) through EPC contracts or an independent infrastructure consortium. The report notes that the company will commence this process during the September 2013 Quarter. Concurrently, Sundance will also commence a tender process for EPC and independent rail and port infrastructure, under which tender participants may respond accordingly.

Reports on the website of the Australian firm indicate that a number of companies and prospective consortia, from both inside and outside of China, have expressed strong interest in the above structural scenarios to develop the Mbalam-Nabeba Iron Ore Project. Final equity tenders from strategic partners would be expected in the fourth quarter of 2013 with a finalised agreement targeted by the end of the year. Final infrastructure tender submissions would also be expected by the end of the year. The report states that subject to the tender offers received from infrastructure providers, financing may require addititional time to complete all conditions. When government signed the mining convention with Cam Iron on November 29, 2012, the company was given 18 months to mobilise the 8.7 billion US dollars (about FCFA 4,350 billion) before it can be served a mining permit to take off real iron ore production.