Summary

Sundance was notified by the International Chamber of Commerce ("ICC") that, following the hearing held in Paris from 28 to 31 January 2025 and subsequent post-hearing submissions between Sundance and Cameroon, a final decision had been made.

A Tribunal constituted under the ICC Rules has determined that Cameroon breached its legal obligations to Cam Iron SA and Sundance in relation to those companies' significant investment in the Nabeba-Mbalam iron ore deposit. Further, the Tribunal held that Cameroon breached the applicable arbitration agreement by failing to comply with the ICC Emergency Order which had been issued against Cameroon in March 2022. This order had prohibited Cameroon from issuing the Mbalam permit to another party. ("ICC Award").

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